Market Overview

Aeterna Zentaris Announces Pricing of US $16.5 Million Public Offering of Common Shares and Warrants


Aeterna Zentaris (NASDAQ: AEZS) today announced the pricing of its previously announced public offering of 6.6 million units (the "Offering"), with each unit consisting of one common share and 0.45 of a warrant to purchase one common share, at a purchase price of US$2.50 per unit. Each warrant will be exercisable for a period of five years following the issuance thereof at an exercise price of US$3.45 per share. Net proceeds from the Offering are expected to be approximately US$15.2 million, after deducting underwriting commissions and other expenses related to the Offering.

Roth Capital Partners, LLC is acting as the sole manager for the Offering.

The Offering is expected to close on or about October 17, 2012, 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 Global Market.

The Company intends to use the net proceeds from the Offering to continue to fund its ongoing drug development activities, particularly for the continued development of perifosine in multiple myeloma and the advancement of its AEZS-108 and AEZS-130 programs, as well as for general corporate purposes and working capital.

Posted-In: News Offerings


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