Aeterna Zentaris (AEZS) announces $7M direct offering of common stock, warrants

Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZS) (the “Company”), a specialty biopharmaceutical company commercializing and developing therapeutics and diagnostic tests, announced today that it has entered into a securities purchase agreement with several institutional investors in the United States providing for the sale and issuance of approximately 12,427,876 common shares at a purchase price of $0.56325 per common share in a registered direct offering priced at-the-market under Nasdaq rules. The offering is expected to result in gross proceeds to Aeterna Zentaris of approximately $7.0 million.

Aeterna Zentaris will also issue to the purchasers unregistered warrants to purchase up to an aggregate of 9,320,907 common shares. The warrants will be exercisable for a period of five and one-half years, exercisable immediately following the issuance date and have an exercise price of $0.47 per common share.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The Company intends to use the net proceeds of this offering for general corporate purposes, which includes, among other purposes, the funding of a pediatric clinical trial in the E.U. and U.S. for Macrilen™ (macimorelin), the investigation of further therapeutic uses of macimorelin and the expansion of pipeline development activities.

The registered direct offering and concurrent private placement is expected to close on or about August 5, 2020, subject to the satisfaction of customary closing conditions.

You May Also Be Interested In

• Aspira Women’s Health (AWH) Files $100M Mixed Shelf
• Longeveron (LGVN) Raises $11.4M in Gross Proceeds from Warrant Exercise Offering and Public Offering
• INmune Bio (INMB) Prices 572K Share Offering at $8.32/sh