Bio-Path Holdings, Inc. announced that it has entered into a definitive agreement for the issuance of 1,809,955 common shares at a price of $2.21 per share for gross proceeds of $4,000,000.55 on June 4, 2024. The company also issued series A warrants to purchase up to 1,809,955 shares and short-term series B warrants to purchase up to 1,809,955 shares. The series A warrants and short-term series B warrants will have an exercise price of $2 per share and will be exercisable immediately upon issuance.

The series A warrants will expire five years from the date of issuance and the short-term series B warrants will expire twenty-four months from the date of issuance. The closing of the offering is expected to occur on or about June 5, 2024, subject to the satisfaction of customary closing conditions. The securities described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the ?Securities Act?), and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws.