By Devika Patel
Knoxville, Tenn., Oct. 19 - AEterna Zentaris Inc. said it plans a $5.5 million registered direct offering of stock.
The company will sell about 4.58 million common shares, with warrants for about 1.83 million additional shares, at $1.20 per share. The warrants are each exercisable at $1.25 for five years.
Settlement is expected on Oct. 22.
Proceeds will be used for general corporate purposes, including clinical development of the company's leading compounds.
AEterna Zentaris is a biopharmaceutical company focused on endocrine therapy and oncology based in Quebec City, Quebec.
| Issuer: | AEterna Zentaris Inc.
|
| Issue: | Common shares
|
| Amount: | $5.5 million
|
| Units: | 4.58 million (approximate)
|
| Price: | $1.20
|
| Warrants: | For about 1.83 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.25
|
| Pricing date: | Oct. 19
|
| Settlement date: | Oct. 22
|
| Stock symbol: | Nasdaq: AEZS
|
| Stock price: | $1.20 at close Oct. 19
|
| Market capitalization: | $70.2 million
|
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