Peak Bio Closes up to $100 M Common Stock Purchase Transaction

(24/7 MARKET NEWS) – Peak Bio, Inc. (NASDAQ: PKBO) announced, this morning, that it entered into a common stock purchase agreement with White Lion Capital, which provides Peak Bio the right, without the obligation, to sell White Lion Capital up to $100 million of its common stock over a 36-month period, subject to certain limitations and conditions. Peak Bio intends to use the transaction’s net proceeds for working capital to support its clinical and preclinical programs.

Peak Bio gapped up to open at $6.57, but has pulled back to $4.79, up $0.99 (+26.05%), on volume of 1.9 million shares, following a very active premarket session.

Its trading range has been $3.80 to $14.9997, with key inflection points being $5.8608 and this morning high of $6.58.

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