First Wave BioPharma, Inc. announced a private placement of common warrants to purchase 732,000 shares of Common Stock on May 10, 2024. The Common Warrants have an exercise price of $2.70 per share, are exercisable immediately and will expire six years from the initial exercise date. The Company has agreed to issue the Common Warrants pursuant to the exemption from the registration requirements of the Securities Act of 1933, as amended, available under Section 4(a)(2) and/or Rule 506(b) of Regulation D promulgated thereunder.