Altamira Therapeutics Sets Pricing for $12 Million Public Offering

Hamilton, Bermuda, Sept. 17, 2024 — Altamira Therapeutics Ltd. (Nasdaq: CYTO), a company focused on developing RNA delivery technologies for targets beyond the liver, has announced the pricing of a public offering. The offering includes 5,555,556 common shares (or pre-funded warrants) and Series A-1 and A-2 common warrants to purchase up to 5,555,556 common shares each, at a combined public offering price of $0.72 per share.

The Series A-1 common warrants come with an exercise price of $0.72 per share, are immediately exercisable upon issuance, and will expire on the earlier of 18 months from the initial issuance date or 60 days after the company publicly announces positive biodistribution data for AM-401 or AM-411 nanoparticles. The Series A-2 common warrants also have an exercise price of $0.72 per share, are immediately exercisable upon issuance, and will expire on the earlier of five years from the initial issuance date or six months after the company announces agreements for the development and commercialization of AM-401 or AM-411, covering territories that include the EU or the US.

The offering is expected to close around September 19, 2024, subject to customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent. The gross proceeds to Altamira from this offering are anticipated to be about $4 million, excluding placement agent fees and other expenses. If fully exercised for cash, the additional gross proceeds from the Series A-1 and A-2 warrants could reach approximately $8 million. However, there is no guarantee that the warrants will be exercised.

Altamira plans to use the net proceeds from the offering for general corporate purposes and working capital. The securities are being offered under a registration statement on Form F-1 that was declared effective by the SEC on September 17, 2024. The offering is being made solely through a prospectus that is part of the effective registration statement. A preliminary prospectus has already been filed with the SEC, and a final prospectus will be filed subsequently.

In addition, Altamira has agreed to amend certain existing warrants issued in July 2023. These warrants, which originally allowed the purchase of up to 555,556 common shares at an exercise price of $9.00 per share and were set to expire on July 10, 2028, will now have a reduced exercise price of $0.72 per share and will expire five years after the closing of the current offering.

Altamira Therapeutics specializes in the development and commercialization of peptide-based nanoparticle technologies for efficient RNA delivery to tissues beyond the liver through its OligoPhore™ and SemaPhore™ platforms. The company has two primary siRNA programs: AM-401 for KRAS-driven cancer and AM-411 for rheumatoid arthritis, both in preclinical development. Their delivery platform is also applicable to mRNA and other RNA modalities and is available for out-licensing to pharmaceutical and biotech companies. Additionally, Altamira holds a 49% stake in Altamira Medica AG, which markets Bentrio®, an OTC nasal spray for allergic rhinitis. The company is also exploring partnerships or divestments for its inner ear legacy assets. Founded in 2003, Altamira is headquartered in Hamilton, Bermuda, with significant operations in Basel, Switzerland.