The offering involved the sale of 1,363,637 shares of common stock alongside Series A and Series B warrants. These warrants become exercisable six months after the issuance date, with Series A options expiring in five and a half years and the short-term Series B warrants set to expire in two years.

Atossa plans to direct the capital toward the clinical development of its pipeline, specifically targeting its lead product candidate, (Z)-endoxifen, alongside general corporate requirements and working capital needs. While the company anticipates potential future inflows from warrant exercises, it notes there is no guarantee these instruments will be utilized. The transaction was conducted under a shelf registration statement declared effective by the SEC in May 2024.