NetworkNewsBreaks – Lexaria Bioscience Corp. (NA
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Posted On: 02/15/2024 3:44:23 PM
NetworkNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Reports on $3.6M Registered Direct Offering
Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug-delivery platforms, has entered into definitive agreements. The agreements are for the purchase and sale of 1,558,443 shares of common stock (or common stock equivalents in lieu thereof) offered at $2.31 per share (or per common stock equivalent in lieu thereof). The agreements are part of a registered direct offering priced in adherence with NASDAQ rules. In addition, the company noted that in a concurrent private placement, it will issue unregistered warrants to purchase up to 1,558,443 shares of common stock. Those shares will be offered at an exercise price of $2.185 per share, exercisable upon issuance and with an expiration date of five years following the date of issuance. The company anticipates closing on the offering on or about Feb. 16, 2024. Lexaria projects funds from the offering to total an estimated $3.6 million before deductions and fees; the company plans to use the funds for research and development studies and the patent and legal costs, as well as for general working capital purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://nnw.fm/LEXX
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 definitive agreements. The agreements are for the purchase and sale of 1,558,443 shares of common stock (or common stock equivalents in lieu thereof) offered at $2.31 per share (or per common stock equivalent in lieu thereof). The agreements are part of a registered direct offering priced in adherence with NASDAQ rules. In addition, the company noted that in a concurrent private placement, it will issue unregistered warrants to purchase up to 1,558,443 shares of common stock. Those shares will be offered at an exercise price of $2.185 per share, exercisable upon issuance and with an expiration date of five years following the date of issuance. The company anticipates closing on the offering on or about Feb. 16, 2024. Lexaria projects funds from the offering to total an estimated $3.6 million before deductions and fees; the company plans to use the funds for research and development studies and the patent and legal costs, as well as for general working capital purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://nnw.fm/LEXX
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
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