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

1. Titan Pharmaceuticals completed a private placement of Series B Convertible Preferred Stock. 2. Blue Harbour purchased 100,000 shares for $1 million at a $3 conversion price. 3. The Preferred Stock has a conversion blocker limiting Blue Harbour’s common stock ownership. 4. No public offering was made; shares aren't registered under the Securities Act. 5. Titan agreed to registration rights for certain events with Blue Harbour.

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Why Bullish?

The capital raised through the private placement could enhance liquidity, supporting future growth. Historically, successful capital raises have positively influenced stock performance, exemplified by biotech firms ramping up R&D funding.

How important is it?

The article indicates a significant financial event for TTNP that can affect investor sentiment and future stock performance. Raising capital through private placement is crucial for biotech companies, impacting their operational capabilities and stock outlook.

Why Short Term?

The immediate influx of cash can stabilize operations and fund development. Quick capital raises often lead to short-term stock price boosts, especially if further developments follow this capital influx.

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NVAXGILDAMGN
April 11, 2025 16:15 ET  | Source: Titan Pharmaceuticals, Inc. 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: https://ir.titanpharm.com/all-sec-filings. 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 JyeChief Executive Officer(786) 769-7512

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