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PolyPid Files for Potential Sale of 3.9 Million Shares
2024-08-31 05:03
05:03 PM EDT, 08/30/2024 (MT Newswires) -- PolyPid (PYPD) filed a registration statement Friday with the US Securities and Exchange Commission for the potential sale of up to 3.9 million ordinary shares.
The filing covers 2 million ordinary shares held by the selling shareholders, 1.7 million shares issuable upon the exercise of warrants, and 229,231 shares issuable upon the exercise of pre-funded warrants, the company said.
PolyPid said it will not receive any proceeds from the sale of shares by the selling shareholders.
The company, however, will obtain proceeds from the exercise of warrants and pre-funded warrants, which will be used for the ongoing Shield II phase 3 trial for the prevention of infections in patients undergoing abdominal colorectal surgery, as well as for working capital and general corporate purposes, PolyPid said.
