Purple Biotech Announces Closing of Exercise of Warrants for $2 Million Gross Proceeds

REHOVOT, Israel, July 02, 2024 (GLOBE NEWSWIRE) -- Purple Biotech Ltd. ("Purple Biotech" or "the Company") (NASDAQ/TASE: PPBT), a clinical-stage company developing first-in-class therapies that seek to overcome tumor immune evasion and drug resistance, today announced the closing of its previously announced exercise of certain existing warrants to purchase an aggregate of 5,633,509 American Depositary Shares (ADSs), each representing 10 ordinary shares, having original exercise prices ranging from $1.25 to $20.00 per ADS, originally issued by Purple Biotech in October 2023, June 2020, January 2019 and June 2018, at a reduced exercise price of $0.36 per ADS. The issuance and/or resale of the ADSs issued upon exercise of the existing warrants, as applicable, are registered pursuant to effective registration statements on Form F-3 (File Nos. 333-235327, 333-233795 and 333-233793) and Form F-1 (File No. 333-275216).

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