BEDMINSTER, N.J., Jan. 14, 2020 (GLOBE NEWSWIRE) -- Matinas BioPharma Holdings, Inc. -- (NYSE AMER: MTNB), a clinical-stage biopharmaceutical company, today announced the closing of its underwritten registered public offering of 32,260,000 shares of its common stock, offered at a price to the public of $1.55 per share for gross proceeds of approximately $50.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses. In addition, Matinas BioPharma has granted the underwriters a 30-day option to purchase up to an additional 4,839,000 shares of its common stock on the same terms and conditions. All of the shares in the offering are being sold by Matinas BioPharma.

Piper Sandler & Co. acted as the sole lead active bookrunner for the offering. SunTrust Robinson Humphrey also acted as a bookrunner for the offering. BTIG, LLC acted as lead manager and H.C. Wainwright & Co., Maxim Group LLC and Roth Capital Partners acted as co-managers for the offering.

Matinas BioPharma anticipates using the net proceeds from the offering for ongoing development activities for its product candidates, primarily MAT9001, and for working capital and other general corporate purposes.

About Matinas BioPharma

Matinas BioPharma is a clinical-stage biopharmaceutical company focused on development of its lead product candidate, MAT9001, for the treatment of cardiovascular and metabolic conditions. MAT9001 is a prescription-only omega-3 fatty acid-based composition, comprised primarily of EPA and DPA, under development for hypertriglyceridemia, that was specifically designed to overcome the shortcomings seen from other agents in the omega-3 class. Company leadership has a deep history and knowledge of cardiovascular drug development and is supported by a world-class team of scientific advisors.