Pulmatrix, Inc. (NASDAQ: PULM) today announced the pricing of its previously announced underwritten public offering of an aggregate of 10,666,666 units at a price to the public of $1.35 per unit. Each unit is comprised of one share of common stock (or common stock equivalent) and one warrant to purchase one share of common stock. In addition, the Company has granted the underwriter a 30-day option to purchase up to 1,599,999 additional shares of common stock and/or warrants to purchase 1,599,999 shares of common stock. All of the units to be sold in the offering are being offered by Pulmatrix.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

Each common warrant has an exercise price of $1.35 per share, is exercisable immediately and will expire five years from the date of issuance. The shares of common stock (or common stock equivalents) and the accompanying common warrants included in the units can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance. This offering is expected to close on or about April 8, 2019, subject to customary closing conditions.

About Pulmatrix

Pulmatrix is a clinical stage biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary disease using its patented iSPERSE™ technology. The Company's proprietary product pipeline is focused on advancing treatments for serious lung diseases, including Pulmazole, inhaled anti-fungal itraconazole for patients with ABPA, and PUR1800, a narrow spectrum kinase inhibitor for patients with obstructive lung diseases including asthma and chronic obstructive pulmonary disease ("COPD"). Pulmatrix's product candidates are based on iSPERSE™, its proprietary engineered dry powder delivery platform, which seeks to improve therapeutic delivery to the lungs by maximizing local concentrations and reducing systemic side effects to improve patient outcomes.