Rezolute Inc. (RZLT) Prices 6.03M Share Offering at $6.50/sh and Concurrent Registered Offering of 769k Shares at $6.50/sh

October 13, 2021 8:12 AM EDT

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Rezolute, Inc. (Nasdaq: RZLT) today announced the pricing of an underwritten public offering of 6,030,847 shares of its common stock at a public offering price of $6.50 per share and of pre-funded warrants to purchase 1,661,461 shares of its common stock at a public offering price of $6.49 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.01 per share exercise price for each pre-funded warrant.

In addition, Rezolute today announced the pricing of its concurrent registered direct offering to certain institutional investors that are current shareholders, of 769,231 shares of its common stock at a public offering price of $6.50 per share.

The aggregate gross proceeds to Rezolute from the offerings are expected to be approximately $55 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Rezolute. All shares of common stock and pre-funded warrants to be sold in the underwritten public offering and all shares of common stock to be sold in the registered direct offering will be offered by Rezolute. In addition, Rezolute has granted the underwriters a 30-day option to purchase up to an aggregate of 1,153,845 additional shares of its common stock in the underwritten public offering at the public offering price of $6.50 per share, before underwriting discounts and commissions. The offerings are expected to close on or about October 15, 2021, subject to satisfaction of customary closing conditions, but the closing of the underwritten public offering is not contingent upon the closing of the registered direct offering.

Rezolute intends to use the net proceeds from both offerings to fund clinical research and development and for working capital and general corporate purposes.

Oppenheimer & Co. Inc. is acting as the sole bookrunning manager with Roth Capital Partners acting as co-manager for the underwritten public offering. The registered direct offering is being made without an underwriter, placement agent, broker, or dealer.

The offerings are being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-251498) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on June 23, 2021. A preliminary prospectus supplement and accompanying prospectus related to the underwritten public offering has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. A final prospectus supplement and accompanying prospectus relating to both offerings will be filed with the SEC. When available, copies of the preliminary prospectus supplement and accompanying prospectus relating to the underwritten public offering may be obtained from: Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad St., 26th Floor, New York, NY 10004, by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.



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