Timber Pharmaceuticals Announces Pricing of $8.0 Million Public Offering

Basking Ridge, NJ, Aug. 04, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Timber Pharmaceuticals, Inc. (“Timber” or the “Company”) (NYSEAmerican:TMBR), a biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases, today announced the pricing of a public offering of 66,666,667 shares of its common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 66,666,667 shares of its common stock at an offering price to the public of $0.12 per share (or pre-funded warrant) and associated warrant. The warrants will have an exercise price of $0.12 per share, are exercisable immediately upon issuance, and will expire five years following the date of issuance.  The closing of the offering is expected to occur on or about August 8, 2022, subject to the satisfaction of customary closing conditions.