Kiora Pharmaceuticals (KPRX) Prices $5M Share Offering at $1.10/sh

Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX) today announced the pricing of an underwritten public offering for gross proceeds of approximately $5.5 million prior to deducting underwriting discounts and commissions and offering expenses.

The offering is comprised of (i) 1,447,628 shares of common stock, (ii) 3,908 shares of Series F Convertible Preferred Stock, (iii) 5,000,000 Class C Warrants with an initial exercise price of $1.10 per share and a term of five years following the initial exercise date, and (iv) 5,000,000 Class D Warrants with an initial exercise price of $1.10 per share and a term of one year following the initial exercise date. The price per share of common stock, Class C Warrant and Class D Warrant is $1.10. The price per share of Series F convertible preferred stock, Class C Warrant to purchase 909 shares of common stock and Class D Warrant to purchase 909 shares of common stock is $999.90. The closing of the offering is expected to take place on or about June 6, 2023, subject to the satisfaction or waiver of customary closing conditions.

Ladenburg Thalmann & Co. Inc. is acting as sole book-running manager in connection with this offering.

In addition, the Company has granted the underwriter a 45-day option to purchase up to 750,000 additional shares of common stock, additional Class C Warrants to purchase up to 750,000 shares of common stock and additional Class D Warrants to purchase up to 750,000 shares of common stock, solely to cover over-allotments, if any, at the public offering price per share of common stock, Class C Warrant and Class D Warrant, less the underwriting discounts and commissions. The securities were offered pursuant to a registration statement on Form S-1 (File No. 333-271699), which was declared effective by the United States Securities and Exchange Commission ("SEC") on June 1, 2023.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering is being made solely by means of a prospectus. A preliminary prospectus relating to the proposed offering was filed with the SEC on June 1, 2023 and is available on the SEC's website located at http://www.sec.gov. A final prospectus relating to this offering will be filed by Kiora with the SEC. When available, copies of the final prospectus can be obtained at the SEC's website at http://www.sec.gov or from Ladenburg Thalmann & Co. Inc., Prospectus Department, 640 Fifth Avenue, 4th Floor, New York, New York 10019 or by email at [email protected].

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