Aptevo Therapeutics Inc. announced that it has entered into a securities purchase agreement with certain healthcare-focused institutional investors to purchase 5,339,806 shares of its common stock, par value $0.001 per share and warrants to purchase up to an aggregate of 10,679,612 shares of Common Stock warrants to purchase up to an aggregate of 10,679,612 shares of Common Stock for the aggregate gross proceeds of $2,750,000 on June 28, 2024. Each share of Common Stock or Pre-Funded Warrant in lieu thereof was offered together with two Common Warrants, each to purchase one share of Common Stock. The Common Warrants have an exercise price of $0.515 per share, are exercisable upon stockholder approval, and will expire five years following the date of stockholder approval.

As compensation to the Placement Agent, the Company paid the Placement Agent a cash fee of 7% of the aggregate gross proceeds raised in the offering, and reimbursement of certain expenses.