Blue Water Biotech Announces Closing of Warrant Exercise and Issuance of New Warrants in A Private Placement For $2.7 Million Gross Proceeds

CINCINNATI, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Blue Water Biotech, Inc. (“Blue Water” or the “Company”) (Nasdaq: BWV), today announced the closing of its previously announced exercise of certain existing warrants to purchase 2,486,214 shares of its common stock at a reduced exercise price of $1.09 per share, in exchange for new warrants as described below. The aggregate gross proceeds from the exercise of the existing warrants were approximately $2.7 million, before deducting placement agent fees and other offering expenses payable by the Company.

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