Dialectic Therapeutics issued an SEC Form D to confirm the sale of nearly $6.4 million in debt, options, warrants and/or other rights to purchase securities.
According to the filing, the Dallas-based cancer treatment technology developer made the first sale in its offering of $6.35 million on Dec. 15, 2020. The $6.35 million already sold is the total amount being offered.
In total, 27 investors contributed to the amended offering, which is not being made in connection with a merger, acquisition or another form of business combination transaction.
The minimum investment accepted by Dialectic Therapeutics was $50,000. The company confirmed that $100,000 of the proceeds collected in the offering is earmarked for payments to a number of executive officers, directors or promoters. No other intended use of proceeds was listed.
Dialectic Therapeutics is a pre-clinical biotechnology company developing anti-cancer drugs with limited toxicities and complications for treating patients with few to no other options, according to the company’s website.