Pulmatrix (PULM) Prices 20M Share Registered Direct Offering at $2/Sh

Pulmatrix, Inc. (NASDAQ: PULM) today announced that it has entered into definitive agreements with healthcare-focused institutional investors for the purchase and sale of 20,000,000 shares of the Company's common stock, at a purchase price of $2.00 per share, in a registered direct offering priced at-the-market under Nasdaq rules. The closing of the offering is expected to occur on or about February 16, 2021, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds to Pulmatrix from this offering are expected to be $40,000,000, before deducting the placement agent's fees and other offering expenses. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.

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