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Aeterna Zentaris Inc. Announces Pricing of USD15.1 Million Public Offering of Common Shares and Warrants


Wednesday, 20 Nov 2013 08:22am EST 

Aeterna Zentaris Inc. announced the pricing of its previously announced public offering of 13.1 million units (the Offering), with each unit consisting of one common share and one whole warrant to purchase one common share, at a purchase price of USD1.15 per unit. Each warrant will be exercisable for a period of five years following the issuance thereof at an exercise price of USD1.60 per share. Net proceeds from the Offering are expected to be approximately USD13.7 million, after deducting underwriting commissions and other expenses related to the Offering. Canaccord Genuity Inc. is acting as the sole book-running manager for the Offering. Maxim Group LLC acted as co-manager for the Offering. The Offering is expected to close on or about November 25, 2013, subject to customary closing conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approvals of the Toronto Stock Exchange and the NASDAQ Capital Market. The Company intends to use the net proceeds from the Offering to continue to fund its ongoing drug development activities, primarily for the advancement of its zoptarelin doxorubicin (AEZS-108) program, secondly for its macimorelin acetate (AEZS-130) program, including the preparation of its commercial launch, as well as for the potential addition of commercialized products to the Company's pipeline, future negative cash flow, general corporate purposes and working capital. 

Company Quote

1.36
 +0.00%
19 Sep 2014