DELCATH SYSTEMS, INC. (NASDAQ:DCTH) Files An 8-K Unregistered Sales of Equity Securities

On May 5, 2020, the Company consummated an underwritten public offering (the “Offering”) of (i) 1,823,000 shares of its common stock, $0.01 par value per share (the “Common Stock”), (ii) pre-funded warrants to purchase up to 377,000 shares of Common Stock and (iii) Series F warrants to purchase 2,224,900 shares of Common Stock.  After giving effect to the shares of Common Stock sold in the Offering, the Company had 1,895,773 shares of Common Stock outstanding.

As of May 6, the number of shares of Common Stock had increased by more than 5% since the last reported number of shares Common Stock outstanding. As of May 8, 2020, the Company had 2,623,446 shares of Common Stock outstanding as a result of (i) conversions of the Company’s Series E Convertible Preferred Stock and Series E-1 Convertible Preferred Stock (collectively, the “Preferred Stock”) into an aggregate of 657,414 shares of Common Stock and (ii) the issuance of an aggregate of 22,963 shares of unregistered Common Stock to the executive officers of the Company (the “Executives”) to the terms of a Support and Conversion Agreement, dated March 11, 2020 and amended on April 8, 2020, among the Company, the Executives and the other parties thereto entered into in connection with the Offering and 47,296 shares of unregistered Common Stock in relation to certain advisory services..

An additional 3,487,282 shares of Common Stock are issuable upon the conversion of the outstanding shares of Preferred Stock and an additional 1,826,579 shares of Common Stock are issuable upon the exercise of the Company’s Series E Warrants and Series E-1 Warrants (the “Warrants”) issued in connection with the sale of the Preferred Stock.  The Preferred Stock and the Warrants were sold by the Company in private placements consummated in July and August 2019.

About DELCATH SYSTEMS, INC. (NASDAQ:DCTH)

Delcath Systems, Inc. is a late-stage clinical development company with early commercial activity in Europe focused on cancers of the liver. The Company is a specialty pharmaceutical and medical device company developing its product, Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (Melphalan/HDS). The Company’s system delivers and filters melphalan hydrochloride, which is marketed as a device under the trade name Delcath Hepatic CHEMOSAT Delivery System for Melphalan (CHEMOSAT). The Company’s focus is on the execution of the clinical development program (CDP) in ocular melanoma liver metastases (mOM), intrahepatic cholangiocarncinoma (ICC), hepatocellular carcinoma (HCC or primary liver) and other cancers that are metastatic to the liver.