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Aytu BioScience (AYTU) Prices Public Offering of Common Stock, Warrants

August 9, 2022 9:17 AM EDT

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Aytu BioPharma, Inc. (the "Company" or "Aytu") (NASDAQ: AYTU), a pharmaceutical company focused on developing and commercializing novel therapeutics, today announced the pricing of its underwritten public offering of (i) 21,505,814 shares of its common stock, and, in lieu of common stock to certain investors that so chose, pre-funded warrants to purchase 1,750,000 shares of its common stock, and (ii) accompanying warrants (the "Common Warrants") to purchase 23,255,814 shares of its common stock (the "Offering"). The shares of common stock (or pre-funded warrants) and the accompanying Common Warrants will be issued separately but can only be purchased together in this Offering. The combined public offering price for each share of common stock and accompanying Common Warrant is $0.43, and the combined offering price for each pre-funded warrant and accompanying Common Warrant is $0.429, which equals the public offering price per share of the common stock and accompanying Common Warrant, less the $0.001 per share exercise price of each pre-funded warrant. The aggregate gross proceeds from the Offering are expected to be approximately $10 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by Aytu. All of the securities in the Offering will be sold by Aytu. The Offering is expected to close on August 11, 2022, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the Offering for advancing the development of its pipeline assets, including for advancing the PREVEnt Trial evaluating AR101 for the treatment of vascular Ehlers-Danlos Syndrome (VEDS), for growth of the company's commercial business, and for working capital and general corporate purposes.

Cantor and Canaccord Genuity are acting as the joint bookrunners for the Offering.

The Offering will be made only by means of a prospectus supplement and accompanying prospectus forming part of a shelf registration statement on Form S-3 (File No. 333-259862) that was declared effective by the Securities and Exchange Commission (the "SEC") on October 7, 2021. A preliminary prospectus supplement relating to and describing the terms of the Offering was filed with the SEC on August 8, 2022. The final prospectus supplement relating to the Offering will be filed with the SEC. Copies of the prospectus supplement and the accompanying prospectus relating to and describing this Offering may be obtained, when available, by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 4th Floor, New York, NY 10022, or by email at [email protected] or by contacting Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, Suite 1200, Boston, MA 02110 or by email at [email protected]. These documents may also be obtained for free on the SEC's website located at http://www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the Offering. There shall not be any sale of these securities in any state or jurisdiction in which such offering, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.



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