Summary by Moomoo AI
Altamira Therapeutics Ltd., a Bermuda-based biopharmaceutical company, has announced a prospectus relating to the resale of up to 2,000,000 common shares by selling shareholder Lincoln Park Capital Fund, LLC (LPC). The shares have a par value of USD 0.002 each and are traded on The Nasdaq Capital Market under the symbol 'CYTO'. The resale is part of a Purchase Agreement dated December 5, 2022, which allows Altamira to issue and sell shares to LPC at its discretion, subject to certain conditions. Altamira will not sell any securities under this prospectus and will not receive proceeds from LPC's resale of shares. However, the company may receive up to $8,814,200 from the sale of Purchase Shares to LPC over time. LPC, considered an 'underwriter', may sell the shares at varying prices. The closing price of Altamira's common shares on Nasdaq as of April 5, 2024, was $1.975 per share. The company, identified as a 'foreign private issuer', is subject to reduced reporting requirements and has highlighted the investment risks in its common shares. The prospectus date is April 17, 2024.