Market Overview

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


Aeterna Zentaris (NASDAQ: AEZS) today announced the closing of its previously announced public offering of 6.6 million units (the "Offering") generating net proceeds of US$15.2 million, 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 is exercisable for a period of five years at an exercise price of US$3.45 per share. Roth Capital Partners, LLC, acted as the sole manager for the Offering.

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.

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities, nor shall there be any sale of the Company's securities in any state or 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 jurisdiction.

Posted-In: News Offerings


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