Tenax Therapeutics (TENX) Prices 1.6M Share Offering at $5.65/sh

Tenax Therapeutics, Inc. (Nasdaq: TENX) announced today the pricing of a public offering of (i) 1,600,000 shares of its common stock (or pre-funded warrants in lieu thereof) and (ii) warrants to purchase up to 3,200,000 shares of its common stock (the “Common Warrants”) at a purchase price of $5.65 per share and associated Common Warrant. The Common Warrants will have an exercise price of $5.65 per share, are immediately exercisable, and will expire five years after their initial exercise date. The offering is expected to close on or about February 12, 2024, subject to customary closing conditions.

Roth Capital Partners is acting as the exclusive placement agent in the offering.

Gross proceeds, before deducting placement agent fees and commissions and offering expenses are expected to be approximately $9,040,000 million. The Company intends to use the net proceeds from the offering to advance the initiation of sites and the enrollment and treatment of patients in its LEVEL trial, a Phase 3 trial of oral levosimendan, as well as for working capital, capital expenditures, and other general corporate purposes.

The securities described above are being offered pursuant to a registration statement on Form S-1/A (File No. 333-275856), as amended, that was declared effective by the U.S. Securities and Exchange Commission (“SEC”), on February 7, 2024. Copies of the accompanying prospectus relating to and describing the terms of the offering may be obtained, when available, at the SEC’s website at www.sec.gov or by contacting Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660 or by email at [email protected].

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities 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. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.

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