Polyrizon Ltd. (PLRZ) Initial Public Offering Announcement

Polyrizon Ltd. (PLRZ), a development-stage biotech company specializing in innovative medical device hydrogels, today announced the pricing of its underwritten initial public offering of 958,903 units at a combined public offering price of $4.38 per unit. Each unit consists of:
– One ordinary share
– Three warrants to purchase one ordinary share per warrant, with an initial exercise price of $4.38 per share.

Aggregate gross proceeds are expected to be $4.2 million, prior to deducting underwriting discounts and offering expenses.

Additional Units

In addition, PLRZ has granted Aegis Capital Corp. a 45-day option to purchase up to 143,835 additional units, equal to 15% of the number of ordinary shares sold in the offering to cover over-allotments. If Aegis exercises the option in full, total gross proceeds are expected to be approximately $4.82 million before deducting underwriting discounts, commissions, and offering expenses. The offering is expected to close on or about October 30, 2024, subject to customary closing conditions.

Use of Proceeds

PLRZ plans to use net proceeds from the offering to fund:
– Preclinical and clinical development of product candidates
– Other research and development
– Repayment of outstanding debt
– Working capital and general corporate purposes
– Possible future acquisitions

Listing on Nasdaq

PLRZ also announced that its ordinary shares have been approved for listing and are expected to begin trading on the Nasdaq Capital Market under the symbol "PLRZ" on October 29, 2024.

Management and Legal Counsel

• Aegis Capital Corp. is acting as the sole book-running manager.
• Greenberg Traurig is acting as counsel to the Company.
• Sichenzia Ross Ference Carmel LLP is acting as counsel to Aegis.

A registration statement on Form F-1 (No. 333-266745) relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission (SEC) on October 28, 2024. The offering is being made by means of a prospectus. Copies of the final prospectus may be obtained on the SEC's website, www.sec.gov, or by contacting Aegis Capital Corp.

Disclaimer

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction where such an offer, solicitation, or sale would be unlawful.

About Polyrizon

Polyrizon is a development-stage biotech company focusing on innovative medical device hydrogels delivered as nasal sprays, creating a thin hydrogel-based barrier against viruses and allergens. Their technology includes Capture and Contain TM (C&C) and Trap and Target ™ (T&T), aimed at enhancing drug delivery effectiveness.

Forward-Looking Statements

This press release contains forward-looking statements regarding future events that are subject to risks and uncertainties. These statements can be identified by words such as "anticipate," "believe," "expect," and similar expressions. Actual results may differ materially from those anticipated.

Contact

Tomer Izraeli
Chief Executive Officer
Email: tomer@polyrizon-biotech.com

Source: Polyrizon Ltd.