Assertio Therapeutics (ASRT) Prices 35M Share Registered Direct Offering at $0.98/Sh

February 10, 2021 6:00 AM EST

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Assertio Holdings, Inc. (NASDAQ: ASRT) today announced it has entered into a securities purchase agreement with certain institutional investors to purchase 35,000,000 shares of its common stock at a price of $0.98 per share, which is a premium to market based on applicable Nasdaq “minimum price” rules.

Roth Capital Partners acted as the sole placement agent in connection with the offering.

The registered direct offering is expected to close on February 12, 2021, subject to customary closing conditions. The gross proceeds to the Company from the registered direct offering are estimated to be approximately $34.3 million before deducting the placement agent’s fees and other estimated offering expenses.

The Company intends to use proceeds from the offering for general corporate purposes, including general working capital.

The securities described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-252368), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 4, 2021. The offering of the shares of common stock will be made only by means of a prospectus supplement that forms a part of the registration statement.



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