Spartan Capital Securities, LLC Serves as Sole Placement

New York, NY, Dec. 18, 2024 (GLOBE NEWSWIRE) — Spartan Capital Securities LLC, a premier investment banking firm, is pleased to announce the successful completion of a private placement for Lipella Pharmaceuticals Inc.’s (Nasdaq: LIPO)  Spartan Capital Securities, LLC acted as the sole placement agent in the private offer and sale of up to 6,000,000 of Series B non-voting convertible preferred stock of Lipella Pharmaceuticals Inc. Lipella Pharmaceuticals Inc., a clinical-stage biopharmaceutical company, successfully raised $1,722,000 through this private placement.

The private placement closed on December 16, 2024, as per schedule, subject to customary closing Conditions.The proceeds from the offering will support Lipella’s continued advancement of its clinical pipeline and general corporate purposes.

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