NetworkNewsBreaks – Lexaria Bioscience Corp. (NA
Post# of 420
(Total Views: 110)
Posted On: 09/29/2023 4:42:55 PM
NetworkNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Reports on Upcoming $1.6M Registered Direct Offering
Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug-delivery platforms, has entered into a securities purchase agreement with a single healthcare-focused institutional investor; the agreement is for the purchase of 1,618,330 shares of common stock (or pre-funded warrants in lieu thereof) in a registered direct offering. According to the announcement, Lexaria also agreed to issue and sell warrants to purchase up to 1,618,330 shares of common stock to the same investor. The combined effective offering price for each share of common stock (or pre-funded warrant in lieu thereof) and accompanying warrant is $0.97. The warrants will become exercisable six months from issuance, with an expiration date five and a half years from the issue date; the exercise price per share is $0.97. Lexaria anticipates receiving gross proceeds from the registered direct offering and concurrent private placement of approximately $1.6 million before the deduction of placement agent’s fees and other offering expenses. The offering is expected to close on or about Oct. 3, 2023, and is subject to customary closing conditions. Maxim Group LLC is acting as the sole placement agent in connection with the offering.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug-delivery platforms, has entered into a securities purchase agreement with a single healthcare-focused institutional investor; the agreement is for the purchase of 1,618,330 shares of common stock (or pre-funded warrants in lieu thereof) in a registered direct offering. According to the announcement, Lexaria also agreed to issue and sell warrants to purchase up to 1,618,330 shares of common stock to the same investor. The combined effective offering price for each share of common stock (or pre-funded warrant in lieu thereof) and accompanying warrant is $0.97. The warrants will become exercisable six months from issuance, with an expiration date five and a half years from the issue date; the exercise price per share is $0.97. Lexaria anticipates receiving gross proceeds from the registered direct offering and concurrent private placement of approximately $1.6 million before the deduction of placement agent’s fees and other offering expenses. The offering is expected to close on or about Oct. 3, 2023, and is subject to customary closing conditions. Maxim Group LLC is acting as the sole placement agent in connection with the offering.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
(0)
(0)Lexaria Bioscience Corp. (LEXX) Stock Research Links
Scroll down for more posts ▼