LEXINGTON, Mass., Jan. 28, 2019 /PRNewswire/ -- Pulmatrix, Inc.
("Pulmatrix," the "Company," "we," "our" or "us") (NASDAQ: PULM) today announced the pricing of an underwritten public offering
of 1,561,177 shares of its common stock at a price to the public of $0.17 per share. Pulmatrix
expects to receive aggregate gross proceeds of approximately $265,400 from the offering. The
offering is expected to close on or about January 31, 2019, subject to customary closing
conditions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
Pulmatrix currently intends to use the net proceeds from the offering for working capital and general corporate purposes.
A shelf registration statement on Form S-3 (Registration No. 333-212546) relating to the public offering of the shares of
common stock described above was filed with the Securities and Exchange Commission ("SEC") and was declared effective on
August 3, 2016. A preliminary prospectus supplement describing the terms of the offering was filed
with the SEC on January 28, 2019 and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the
offering may be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue 3rd Floor, New York, NY 10022, or by calling (646) 975-6996 or by emailing placements@hcwco.com or at the SEC's website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale
of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction. Any offer, if at all, will be made only by means of the
prospectus supplement and accompanying prospectus forming a part of the effective registration statement.
About Pulmatrix
Pulmatrix is a clinical stage biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary
disease using its patented iSPERSE™ technology. The Company's proprietary product pipeline is focused on advancing treatments for
serious lung diseases, including Pulmazole, an inhaled anti-fungal for patients with allergic bronchopulmonary aspergillosis
("ABPA"), and PUR1800, a narrow spectrum kinase inhibitor for patients with obstructive lung diseases including asthma and
chronic obstructive pulmonary disease ("COPD"). Pulmatrix's product candidates are based on iSPERSE™, its proprietary engineered
dry powder delivery platform, which seeks to improve therapeutic delivery to the lungs by maximizing local concentrations and
reducing systemic side effects to improve patient outcomes.
Forward-Looking Statements
Certain statements in this press release that are forward-looking and not statements of historical fact are forward-looking
statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include, but are not limited to, the statements pertaining to the offering of the Company's shares of
common stock, including the use of net proceeds therefrom and other statements that are not statements of historical fact, and
may be identified by words such as "anticipates," "assumes," "believes," "can," "could," "estimates," "expects," "forecasts,"
"guides," "intends," "is confident that", "may," "plans," "seeks," "projects," "targets," and "would," and their opposites and
similar expressions are intended to identify forward-looking statements. Such forward-looking statements are based on the beliefs
of management as well as assumptions made by and information currently available to management. Actual results could differ
materially from those contemplated by the forward-looking statements as a result of certain factors, including, but not limited
to, market conditions and the satisfaction of customary closing conditions related to the offering; delays in planned
clinical trials; the ability to establish that potential products are efficacious or safe in preclinical or clinical trials; the
ability to establish or maintain collaborations on the development of therapeutic candidates; the ability to obtain appropriate
or necessary governmental approvals to market potential products; the ability to obtain future funding for developmental products
and working capital and to obtain such funding on commercially reasonable terms; the Company's ability to manufacture product
candidates on a commercial scale or in collaborations with third parties; changes in the size and nature of competitors; the
ability to retain key executives and scientists; and the ability to secure and enforce legal rights related to the Company's
products, including patent protection. A discussion of these and other factors, including risks and uncertainties with respect to
the Company, is set forth in the Company's filings with the SEC, including its annual report on Form 10-K filed with the
Securities and Exchange Commission on March 13, 2018, as may be supplemented or amended by the
Company's Quarterly Reports on Form 10-Q. The Company disclaims any intention or obligation to revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Pulmatrix, Inc.