05:03 PM EDT, 08/30/2024 (MT Newswires) -- PolyPid ( PYPD ) filed a registration statement Friday with the US Securities and Exchange Commission for the potential sale of up to 3.9 million ordinary shares.

The filing covers 2 million ordinary shares held by the selling shareholders, 1.7 million shares issuable upon the exercise of warrants, and 229,231 shares issuable upon the exercise of pre-funded warrants, the company said.

PolyPid ( PYPD ) said it will not receive any proceeds from the sale of shares by the selling shareholders.

The company, however, will obtain proceeds from the exercise of warrants and pre-funded warrants, which will be used for the ongoing Shield II phase 3 trial for the prevention of infections in patients undergoing abdominal colorectal surgery, as well as for working capital and general corporate purposes, PolyPid ( PYPD ) said.