Eton Pharmaceuticals Inc. (ETON) Enters Share and Warrant Sale Agreements

On April 15, 2024, Eton Pharmaceuticals Inc. (NASDAQ: ETON) entered into (i) agreements to issue and sell 1,287,500 shares of common stock at a price of $3.50 per share or total proceeds of $4,506,250, (ii) agreements to issue pre-funded warrants to purchase an aggregate of 2,462,500 shares of common stock for total proceeds of $8,618,750 or $3.50 per share. The Company also entered into an agreement to expand its existing credit facility by $21.9 million to $27.0 million and in connection therewith agreed to issue a warrant to the lender for up to 358,976 shares of common stock at a price of $3.66 per share (the above items, collectively, the “Transactions”).

Closing of the Transactions was contingent on the Company being named the winning bidder in an auction (“Auction”) for certain assets of Eiger BioPharmaceuticals, Inc. under the U.S. bankruptcy laws taking place Wednesday April 17, 2024.

The Company was not the successful bidder in the Auction and, accordingly, the Transactions were cancelled and are of no further force and effect.

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