VYNE Therapeutics (VYNE) Announces $50 Million Registered Direct Offering of Common Stock
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VYNE Therapeutics Inc. (Nasdaq: VYNE) (“VYNE” or the “Company”), today announced that it has entered into definitive agreements with institutional and accredited investors for the sale of an aggregate of 21,097,046 shares of its common stock at a purchase price of $2.37 per share in a registered direct offering priced at-the-market under Nasdaq Rules. The offering is expected to close on or about January 28, 2021, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds of the offering are expected to be approximately $50.0 million, prior to deducting placement agent’s fees and other offering expenses payable by VYNE. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.
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