This transaction was announced on January 6, 2025, as disclosed in an SEC filing published on the same date through SEC EDGAR. The specific form type is not identified in the source materials provided. The deal is currently in announced status, meaning the Sales Agreement has been executed but shares have not yet necessarily been sold under the agreement.
WallachBeth Capital, LLC is serving as the agent under the At-the-Market Sales Agreement and is the sole financial advisor on the issuer side. WallachBeth is functioning as the agent through which the company may offer and sell shares from time to time, acting in an agency capacity rather than as a principal. WallachBeth holds lead status as the identified agent on this transaction.
TroyGould PC is serving as legal counsel to the issuer and has opined on the legality of the shares being offered. Their opinion letter has been filed as Exhibit 5.1 and incorporated by reference into the Registration Statement, which is standard practice for registered offerings. No legal advisors to any other party are identified in the source materials.
Under the terms of the At-the-Market Sales Agreement, Lixte Biotechnology may offer and sell shares of common stock from time to time through WallachBeth Capital, LLC acting as agent. The aggregate offering price of shares that may be sold is capped at $1,700,000. The structure is agent-based rather than a firm commitment underwriting, meaning WallachBeth will facilitate sales on behalf of the company but does not commit to purchase any shares itself. The shares being offered are common stock with a par value of $0.0001 per share.
The source materials do not disclose the expected closing date or timeline for completion of the offering. The pricing mechanism for shares sold under this At-the-Market arrangement is not specified. No information is provided regarding any commissions or fees payable to the agent, nor are there any details about any lock-up periods, use of proceeds, or other material terms beyond the basic framework of the Sales Agreement. The specific form type of the SEC filing is not identified in the extracted materials.