PLUS THERAPEUTICS, INC. 8-K

What Happened Plus Therapeutics, Inc. (PSTV) filed an 8-K reporting that on June 1, 2026 it entered into an Equity Distribution Agreement with Canaccord Genuity LLC to sell, from time to time, up to $17,350,000 of its common stock in an "at-the-market" offering. Sales may be made on or through the Nasdaq Capital Market under the Company’s Form S-3 registration statement (filed June 2, 2026), and the Company has no obligation to sell any shares or to continue sales if pricing or market conditions are not acceptable.

Key Details

• Agreement date: June 1, 2026; 8-K filed June 5, 2026.
• Offering size: up to $17,350,000 of common stock, sold as an at-the-market (ATM) offering under Rule 415.
• Agent terms: Canaccord Genuity LLC will act as agent and receive a commission equal to 3.0% of gross proceeds; Company agreed to reimburse up to $75,000 of the Agent’s documented out-of-pocket expenses.
• Mechanics/conditions: Company can suspend or limit sales at any time; offering subject to registration statement effectiveness (Form S-3, File No. 333-296411).

Why It Matters This agreement gives Plus Therapeutics a flexible way to raise capital over time without a firm underwritten commitment. For investors, the ATM can be dilutive as shares are issued when the company sells into the market, but it also provides working capital and general corporate funding without needing a single large financing event. The 3% commission and expense reimbursements will modestly reduce net proceeds; actual dilution and timing depend on if and when the company chooses to sell shares and the market price at those times.