TTNP TITAN PHARMACEUTICALS INC

Titan Pharmaceuticals Announces $1 Million Private Placement of Convertible Preferred Stock

Titan Pharmaceuticals Announces $1 Million Private Placement of Convertible Preferred Stock

NEW YORK, April 11, 2025 (GLOBE NEWSWIRE) -- Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) ("Titan" or the "Company") announced today that, pursuant to a securities purchase agreement (the “Purchase Agreement”) with Blue Harbour Asset Management L.L.C-FZ (“Blue Harbour”), it has completed a private placement of the Company’s newly designated Series B Convertible Preferred Stock (the “Preferred Stock”). Pursuant to the Purchase Agreement, Blue Harbour purchased 100,000 shares of Preferred Stock for an aggregate purchase price of $1,000,000. The shares have a conversion price of $3.00.

The Certificate of Designations authorizing the Preferred Stock contains a beneficial ownership conversion "blocker" that prevents Blue Harbour from acquiring the lower of either (i) the maximum percentage of common stock permissible under Nasdaq rules and regulations without first obtaining shareholder approval or (ii) 19.99% of the Company's outstanding common stock.

The shares being sold in this transaction do not involve a public offering and have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on Regulation S thereunder. Titan and Blue Harbour have concurrently entered into a registration rights agreement (the “Registration Rights Agreement”) pursuant to which Titan has agreed to provide certain registration rights upon the occurrence of certain events set forth in the Registration Rights Agreement. Additional information regarding the agreement can be found in an 8-K that was filed with the SEC: .

ARC Group Ltd. served as sole financial advisor to Titan in the private placement.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our product development programs and any other statements that are not historical facts. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management's current expectations include those risks and uncertainties relating to our ability to raise capital, the regulatory approval process, the development, testing, production and marketing of our drug candidates, patent and intellectual property matters and strategic agreements and relationships. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. A complete discussion of the risks and uncertainties that may affect Titan's business, including the business of its subsidiary, is included in "Risk Factors" in the Company's most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.

Media & Investor Contacts:

Chay Weei Jye

Chief Executive Officer

(786) 769-7512



EN
11/04/2025

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on TITAN PHARMACEUTICALS INC

 PRESS RELEASE

Titan Pharmaceuticals Announces Filing of Registration Statement for P...

Titan Pharmaceuticals Announces Filing of Registration Statement for Proposed Business Combination with TalenTec Sdn. Bhd. NEW YORK, June 03, 2025 (GLOBE NEWSWIRE) -- Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) (“Titan” or the “Company”) announced today the filing by Black Titan Corporation with the U.S. Securities and Exchange Commission (“SEC”) of a registration statement on Form F-4 in connection with the proposed combination of Titan and TalenTec Sdn. Bhd. (f/k/a KE Sdn. Bhd.) (“TalenTec”), which includes Titan’s preliminary proxy statement (the “Form F-4”) As previously announced on ...

 PRESS RELEASE

Titan Pharmaceuticals Announces $1 Million Private Placement of Conver...

Titan Pharmaceuticals Announces $1 Million Private Placement of Convertible Preferred Stock NEW YORK, April 11, 2025 (GLOBE NEWSWIRE) -- Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) ("Titan" or the "Company") announced today that, pursuant to a securities purchase agreement (the “Purchase Agreement”) with Blue Harbour Asset Management L.L.C-FZ (“Blue Harbour”), it has completed a private placement of the Company’s newly designated Series B Convertible Preferred Stock (the “Preferred Stock”). Pursuant to the Purchase Agreement, Blue Harbour purchased 100,000 shares of Preferred Stock for an ...

 PRESS RELEASE

Titan Pharmaceuticals, Inc. Announces Receipt of Notice from Nasdaq

Titan Pharmaceuticals, Inc. Announces Receipt of Notice from Nasdaq NEW YORK, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) (“Titan”) today reported that it received a notice (the “5250 Notice”) on November 22, 2024 from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) advising the Company that it was not in compliance with Nasdaq’s continued listing requirements under the Nasdaq Listing Rule 5250(c)(1) (“Rule 5250”) as a result of its failure to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (t...

 PRESS RELEASE

Titan Pharmaceuticals Enters Into Merger Agreement With KE Sdn. Bhd.

Titan Pharmaceuticals Enters Into Merger Agreement With KE Sdn. Bhd. NEW YORK, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) (“Titan”) today announced that it has entered into a Merger and Contribution and Share Exchange Agreement (the “Merger Agreement”) regarding a business combination with KE Sdn. Bhd. (“KE”). The Merger Agreement was approved by Titan’s board of directors (the “Board”). If the Merger Agreement is approved by the stockholders of Titan and KE (and the other closing conditions are satisfied or waived in accordance with the Merger Agreement)...

 PRESS RELEASE

Titan Pharmaceuticals Fully Compliant With NASDAQ Listing Criteria

Titan Pharmaceuticals Fully Compliant With NASDAQ Listing Criteria SOUTH SAN FRANCISCO, Calif., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) (“Titan” or the “Company”) today announced that by letter dated January 24, 2024, the Company was notified by The Nasdaq Stock Market LLC that the Company has regained compliance with the minimum $1.00 bid price requirement and otherwise satisfies all applicable criteria for continued listing on The Nasdaq Capital Market. As such, the listing matter has been closed.  About Titan Pharmaceuticals Titan Pharmace...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch