IPO - Entero Therapeutics, Inc.

Form Type: S-1

Filing Date: 2025-05-12

Corporate Action: Ipo

Type: New

Accession Number: 000110465925047285

Filing Summary: Entero Therapeutics, Inc. filed a registration statement on Form S-1 with the SEC to initiate an initial public offering (IPO) of 16,666,667 shares of its common stock at an estimated public offering price of $0.36 per share. The offering will include pre-funded warrants for an equal number of common shares, primarily for investors anticipating exceeding a 4.99% ownership threshold after the offering. This registration statement follows the company's name change from First Wave Biopharma, Inc. to Entero Therapeutics in May 2024 and provides relevant information concerning the company's focus on developing targeted non-systemic therapies for gastrointestinal diseases. Entero plans to utilize the proceeds from this offering to continue its operations and fund its development programs, including the biologic Adrulipase, while addressing its financial challenges due to previous significant operating losses and the closure of certain programs. The document also outlines the status and implications of a recent merger with ImmunogenX, Inc. and subsequent rescission agreement to rescind aspects of the merger due to financial difficulties, indicating the company's precarious financial condition and ongoing efforts for stability. The anticipated closure date for transactions related to the rescission agreement is on or before June 30, 2025, subject to shareholder approval.