PLUS THERAPEUTICS, INC. 8-K

What Happened
Plus Therapeutics, Inc. (PSTV) announced on January 16, 2026 (8‑K) that it completed an underwritten public offering that closed January 15, 2026. The company issued and sold 39,473,684 shares of common stock and warrants to purchase 39,473,684 shares at a combined public offering price of $0.38 per share and warrant. Lake Street Capital Markets, LLC served as the underwriter. The underwriter exercised its over‑allotment option on January 14, 2026 to purchase additional warrants to buy 5,921,052 shares. Net proceeds to the company were approximately $13.3 million after underwriting discounts, commissions and offering expenses.

Key Details

• Offering size and price: 39,473,684 shares + 39,473,684 warrants, $0.38 per share/warrant.
• Over‑allotment: Underwriter exercised option for 5,921,052 additional warrants on Jan 14, 2026.
• Warrant terms: Each warrant is immediately exercisable for one share at $0.38 and expires five years after issuance.
• Use of proceeds and restrictions: Company will use net proceeds for working capital and general corporate purposes; 45‑day lock‑up for the company and its directors/officers; 120‑day restriction on “variable rate” financings (e.g., equity lines or AT‑the‑market features).
• Registration: Securities were offered under Form S‑1 registrations declared effective Jan 13, 2026; final prospectus filed Jan 14, 2026.

Why It Matters
This transaction provides Plus Therapeutics with fresh cash (~$13.3M net), which can extend runway for operations or development activities. However, the offering (and exercisable warrants) is dilutive to existing shareholders — additional shares could be issued if warrants are exercised. The lock‑up and variable‑rate financing restrictions temporarily limit further equity issuances and insider sales, which can affect near‑term share supply.