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Matinas BioPharma Announces Agreement for the Acquisition of Preferred Stock and Appointment of Dr. Robin L. Smith to the Board of Directors

Matinas BioPharma, a clinical-stage biopharmaceutical company, has entered into an agreement with Dr. Robin L. Smith for the acquisition of Series B Non-Voting Convertible Preferred Stock. This deal includes the issuance of 1,000 shares of preferred stock to Dr. Smith, which are convertible into common stock at a rate of 10,000 shares per preferred share, totaling 10,000,000 shares of common stock. Additionally, Dr. Smith has been appointed to Matinas' Board of Directors. This strategic move is aimed at enhancing the company's leadership and financial structure, leveraging Dr. Smith's extensive experience in healthcare and biotechnology. The transaction is expected to close by February 16, 2025, subject to customary closing conditions.

Read the Full manilatimes Article at:
[ https://www.manilatimes.net/2025/02/14/tmt-newswire/globenewswire/matinas-biopharma-announces-agreement-for-the-acquisition-of-preferred-stock-and-appointment-of-dr-robin-l-smith-to-the-board-of-directors/2055773 ]