Pulmatrix Completes Preferred Stock Transaction As It Moves Toward Merger With Eos SENOLYTIX

Pulmatrix Completes a Key Step in its Merger with Eos SENOLYTIX

Pulmatrix, Inc. (Nasdaq: PULM) announced the successful closure of its previously detailed private placement of Series B Convertible Preferred Stock. This transaction plays a vital role in the ongoing merger process with Eos SENOLYTIX, Inc. The preferred stock is convertible at a set price of $2.20 per share, enabling effective fundraising as part of Pulmatrix's strategic plans.

The completion of this financing is particularly significant, as it secured approximately $1 million in gross proceeds for the company. The funds will be allocated towards working capital and fulfilling other general corporate needs. Pulmatrix’s Interim CEO, Peter Ludlum, expressed satisfaction with this crucial development and remarked, “We have taken an important initial step forward as part of the planned merger.”

This investment was executed under the provisions of Section 4(a)(2) of the Securities Act of 1933 and Regulation D, meaning it was offered privately and not registered under federal or state securities laws. Therefore, shares from this transaction cannot be sold publicly unless proper registration is achieved.

Series B Preferred Stock Overview

The Series B Preferred Stock offers flexibility to investors as it can be converted into common stock at the outlined $2.20 price after a 90-day period from issuance. This feature is subject to traditional adjustments for stock splits, dividends, and other corporate activities. Holders of the Series B shares are granted voting rights in unison with common stockholders, presenting an engaging opportunity for participation in corporate governance.

The issuance aligns with Pulmatrix's strategy to enhance its capital structure and support its merger with Eos. Detailed terms of the Series B Preferred Stock were formalized in the Certificate of Designation filed earlier this year, further solidifying the legal foundation for this transaction.

About Pulmatrix, Inc.

Pulmatrix is a biopharmaceutical firm dedicated to creating innovative inhaled therapies aimed at treating respiratory conditions such as migraine and chronic lung diseases through its proprietary iSPERSE™ technology. The company’s development pipeline showcases significant potential with treatments targeting central nervous system disorders alongside respiratory ailments, underscoring its commitment to addressing unmet medical needs. By leveraging its engineered dry powder delivery platform, Pulmatrix seeks to optimize drug delivery to the lungs, enhancing patient outcomes while minimizing side effects.

About Eos SENOLYTIX, Inc.

Eos SENOLYTIX focuses on pioneering new biotechnological approaches through its peptide medicines aimed at the biological processes of aging. With promising clinical candidates that rejuvenate aging cells, Eos is at the forefront of gerotherapeutics, targeting underlying mechanisms of age-related diseases. Their unique approach seeks to improve healthspan and lifespan by mitigating the detrimental effects of aging through scientific advancements.

As both companies strive to enhance their capabilities and prospects, this merger represents a strategic intersection in the biopharmaceutical landscape, particularly in advancing therapies addressing age-related conditions and chronic diseases. Stakeholders eager for updates on this evolving merger and associated developments can track both entities as they navigate the complexities of this significant corporate transformation.

With this transformative step, Pulmatrix is poised to create a more robust platform to tackle critical health challenges confronting many postmodern societies. As it advances its mission of improving patient care through innovative therapies, Pulmatrix stands at a crossroads, offering promising prospects for investors and patients alike.