Hillstream BioPharma Announces Closing of Public Offering of Common Stock

BRIDGEWATER, N.J., May 02, 2023 (GLOBE NEWSWIRE) --  Hillstream BioPharma, Inc. (Nasdaq: HILS) ("Hillstream" or the "Company"), a biotechnology company developing therapeutic candidates targeting drug resistant and devastating cancers using ferroptosis, an emerging new anti-cancer mechanism resulting in iron-mediated cell death, and immuno-oncology targeted novel biologics, today announced the closing of its previously announced public offering of common stock. Hillstream sold 5,300,000 shares of its common stock at a public offering price of $0.50 per share for gross proceeds of $2,650,000 before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 795,000 shares of common stock to cover over-allotments, if any, at the public offering price, less the underwriting discount.

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