TFF Pharmaceuticals Announces Closing of $12.3 Million Public Offering

TFF Pharmaceuticals, Inc.
TFF Pharmaceuticals, Inc.

Underwriters Exercise Their Option in Full

FORT WORTH, Texas, Nov. 29, 2022 (GLOBE NEWSWIRE) -- TFF Pharmaceuticals, Inc. (NASDAQ: TFFP), a clinical-stage biopharmaceutical company focused on developing and commercializing innovative drug products based on its patented Thin Film Freezing (TFF) technology platform, today announced the closing of its previously announced underwritten offering of 10,675,001 shares of its common stock and warrants to purchase up to 5,337,501 shares of common stock. The total offering included 1,392,392 shares of common stock and warrants to purchase 696,196 shares of common stock as a result of the underwriters’ exercise of their option in full.

The public offering price, before the underwriters’ discount and commissions, for each share of common stock and accompanying warrant was $1.15. All of the securities in the offering were sold by TFF Pharmaceuticals, Inc.

The gross proceeds to TFF Pharmaceuticals from the offering are approximately $12.3 million, before deducting underwriting discounts, commissions and other offering expenses. TFF Pharmaceuticals intends to use the net proceeds from the offering for clinical trials, research and development, working capital and general corporate purposes

JonesTrading Institutional Services LLC acted as the sole book-running manager and Newbridge Securities Corporation acted as lead manager for the offering.

The common stock and warrants to purchase common stock described above were offered by TFF Pharmaceuticals pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”). A final prospectus supplement relating to the offering has been filed with the SEC. Copies of the final prospectus supplement relating to the securities being offered may be obtained from JonesTrading Institutional Services LLC, Attn: Syndicate; email: syndicate@jonestrading.com; telephone: 212-907-5398. Electronic copies of the final prospectus supplement will also be available on the SEC’s website at http://www.sec.gov.

ABOUT TFF PHARMACEUTICALS
TFF Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company engaging patented rapid freezing technology to develop and transform medicines into potent dry powder formulations for better efficacy, safety and stability.

Safe Harbor
This press release contains forward-looking statements regarding the intended use of proceeds from the offering. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially, including those risks disclosed in the section “Risk Factors” included in the final prospectus supplement filed with the SEC on November 18, 2022. TFF Pharmaceuticals cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.

Company Contact:
Bill Begien
TFF Pharmaceuticals, Inc.
(617) 842-2222
bbegien@tffpharma.com

Investor Relations Contact:
Corey Davis, Ph.D.
LifeSci Advisors
(212) 915-2577
cdavis@lifesciadvisors.com

Media Contact:
Gwendolyn Schanker
LifeSci Communications
(269) 921-3607
gschanker@lifescicomms.com