New York, April 15 - Aeterna Zentaris Inc. said it has received commitments from institutional investors for a $15 million registered direct sale of common shares and warrants.
The company will sell 11.1 million shares at $1.35 each and issue warrants for 4.4 million shares exercisable at $1.50 per share. Investors can exercise the warrants for five years starting six months after issuance.
Proceeds will be used for general corporate purposes.
Rodman & Renshaw, LLC is placement agent.
Aeterna Zentaris is a Quebec City-based drug development company.
| Issuer: | Aeterna Zentaris Inc.
|
| Issue: | Stock
|
| Amount: | $15 million
|
| Shares: | 11.1 million
|
| Price: | $1.35
|
| Warrants: | For 4.4 million shares
|
| Warrant strike price: | $1.50
|
| Warrant expiration: | After 5.5 years
|
| Placement agent: | Rodman & Renshaw, LLC
|
| Distribution: | Registered direct
|
| Pricing date: | April 15
|
| Settlement: | April 20
|
| Stock symbol: | Nasdaq: AEZS, Toronto: AEZ
|
| Stock price: | $1.65 at close, April 15
|
| Market capitalization: | $104.1 million
|
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