Pulmatrix announced it had closed a private placement of Series B Convertible Preferred Stock, raising approximately $1 million in gross proceeds. The preferred shares were issued to an affiliate of Eos SENOLYTIX, the company with which Pulmatrix is pursuing a merger. The Series B shares are convertible into common stock at a price of $2.20 per share.
The financing closed on April 16 2026, and the transaction is intended to provide working capital and support the merger process. Pulmatrix’s cash balance was $4.1 million at the end of 2025, and the company has reported near‑zero revenue and ongoing losses, underscoring the importance of the capital infusion for the merger.
Pulmatrix’s merger with Eos SENOLYTIX is a reverse merger that will place the combined entity under the Eos name and trade under the ticker EOSX. Pulmatrix shareholders are expected to hold roughly 6 % of the new company, while Eos investors will own about 94 %. The deal follows a prior, unsuccessful merger attempt with Cullgen that was terminated in early 2025.
Eos SENOLYTIX focuses on gerotherapeutic peptides, with its lead candidate PTC‑2105 targeting mitochondrial dysfunction and senescent cells in age‑related conditions such as sarcopenia. The merger positions the combined company to pursue a portfolio of aging‑related therapies and leverages Pulmatrix’s public market infrastructure.
"We have taken an important initial step forward as part of the planned merger and are pleased that investors supporting Eos chose to make this investment in Pulmatrix as part of the signing of the definitive merger agreement," said Peter Ludlum, interim CEO of Pulmatrix.
Investors reacted positively to the merger announcement, and the $1 million financing is viewed as a necessary step to meet regulatory and financial requirements for closing the deal.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.