New York, NY, July 08, 2025 (GLOBE NEWSWIRE) -- Spartan Capital Securities, LLC, a premier investment banking firm, is pleased to announce the closing of a $5.0 million private placement for Lixte Biotechnology Holdings, Inc. (NASDAQ: LIXT), in which it served as the exclusive placement agent.
Lixte Biotechnology Holdings, Inc., a clinical-stage pharmaceutical company focused on cancer drug development, completed the offering on July 2, 2025. The offering, priced at the market under Nasdaq rules, consisted of the sale of Common Stock (or Pre-Funded Warrants), Series B Convertible Preferred Stock, and Common Warrants to accredited investors.
The Company received gross proceeds of approximately $5.0 million, with $4.0 million received at closing and the remaining $1.0 million to be received upon effectiveness of a resale registration statement. Proceeds will be used for general corporate purposes and working capital.
“We’re proud to have acted as the placement agent for Lixte Biotechnology Holdings, Inc. in this successful transaction,” said John Lowry, CEO of Spartan Capital Securities. “Lixte’s commitment to advancing innovative oncology therapies marks a significant step forward in cancer research and treatment. We’re honored to support their mission and contribute to progress in such a critical area of healthcare.”
Lixte was represented by TroyGould PC, while Spartan Capital Securities was represented by Kaufman & Canoles, P.C.
Additional details regarding the offering can be found in the Company’s Form 8-K filed with the U.S. Securities and Exchange Commission at www.sec.gov.
The securities sold in this private placement were not registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless pursuant to an effective registration statement or an applicable exemption from registration.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.
About Spartan Capital Securities, LLC
Spartan Capital Securities, LLC is a premier full-service investment banking firm offering a comprehensive range of advisory services to institutional clients and high-net-worth individuals. Known for its expertise in capital raising, strategic advisory, and asset management, Spartan Capital delivers tailored solutions to meet clients’ financial goals.
For more information about Spartan Capital Securities, visit www.spartancapital.com.
About Lixte Biotechnology Holdings, Inc.
Lixte Biotechnology Holdings, Inc. is a clinical-stage pharmaceutical company focused on discovering and developing cancer therapies based on novel biological pathways. Its lead compound, LB-100, a first-in-class PP2A inhibitor, has shown promise in enhancing the effectiveness of chemotherapy and immunotherapy. Clinical trials are underway for colon, small cell lung, and sarcoma cancers.
For more information about Lixte, visit www.lixte.com.
Contact:
Spartan Capital Securities, LLC
45 Broadway, 19th Floor
New York, NY 10006
investmentbanking@spartancapital.com
