panbela therapeutics said friday that it priced a public offering of 23 million shares and two classes of warrants to buy up to 45 million shares at 375 a share and associated warrant the warrants have an exercise price of 375 a share are exercisable upon issuance and expire five years following the date of issuance the offering is expected to close on or about wednesday with proceeds of 85 million that the clinicalstage biotherapeutics company intends to use for continued clinical development of product candidates working capital business development and other general corporate purposes which may include repayment of debt panbela shares were down 53 to 274 in premarket trading friday