An anonymous director reports
AETERNA ZENTARIS INCREASES PREVIOUSLY ANNOUNCED BOUGHT DEAL OFFERING OF COMMON SHARES TO $29.7 MILLION
Due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 20,509,746 common shares of Aeterna Zentaris Inc., at a price to the public of $1.45 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about Feb. 19, 2021, subject to satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
Aeterna also has granted to the underwriter a 30-day option to purchase up to 3,076,461 additional common shares at the public offering price, less underwriting discounts and commissions.
The gross proceeds are expected to be approximately $29.7-million, before deducting underwriting discounts, commissions and other offering expenses payable by Aeterna. Aeterna intends to use the net proceeds from the offering for general corporate purposes, which include, among other purposes, the investigation of further therapeutic uses of Macrilen (macimorelin), the expansion of pipeline development activities, the further expansion of commercialization of macimorelin in available territories, and the potential financing of a pediatric clinical trial in the European Union and the United States for macimorelin.
A shelf registration statement on Form F-3 (registration No. 333-232935) was filed with the Securities and Exchange Commission (SEC) and was declared effective on Aug. 15, 2019, and the related registration statement on Form F-3 (File No. 333-253178) was filed with the SEC under Rule 462(b) of the Securities Act of 1933, as amended, relating to the securities being offered. The offering is being made only by means of a prospectus supplement and accompanying base prospectus. A preliminary prospectus supplement and accompanying base prospectus relating to the offering were filed with the SEC and are available at no charge on the SEC's website. When available, electronic copies of the final prospectus supplement and accompanying base prospectus relating to the public offering may be obtained by contacting H.C. Wainwright & Co. LLC, 430 Park Ave., third floor, New York, N.Y., 10022, by telephone at 646-975-6996 or by e-mail to firstname.lastname@example.org.
In obtaining the approval of the Toronto Stock Exchange of the offering, the company relied on the exemption set forth in Section 602.1 of the TSX company manual available to eligible interlisted issuers, since the company's common shares are also listed on the Nasdaq Capital Market and had less than 25 per cent of the overall trading volume of its listed securities occurring on all Canadian marketplaces in the 12 months immediately preceding the date on which application was made to the TSX to approve the offering.
About Aeterna Zentaris Inc.
Aeterna Zentaris is a specialty biopharmaceutical company, commercializing and developing therapeutics and diagnostic tests. The company's lead product, macimorelin, is the first and only U.S. Food and Drug Administration- and European Commission-approved oral test indicated for the diagnosis of adult growth hormone deficiency (AGHD). Macimorelin is currently marketed in the United States under the trade name Macrilen through a licence agreement with Novo Nordisk, where Aeterna receives royalties on net sales. According to a commercialization and supply agreement, MegaPharm Ltd. will seek regulatory approval and then commercialize macimorelin in Israel and the Palestinian Authority. Additionally, upon receipt of pricing and reimbursement approvals, Aeterna expects that macimorelin will be marketed in Europe and the United Kingdom through a recently established licence agreement with Consilient Health Ltd. and that Aeterna will receive royalties on net sales and other potential payments.
Aeterna is also leveraging the clinical success and compelling safety profile of macimorelin to develop it for the diagnosis of childhood-onset growth hormone deficiency (CGHD), an area of significant unmet need.
Aeterna is actively pursuing business development opportunities for the commercialization of macimorelin in Asia and the rest of the world, in addition to other non-strategic assets to monetize their value.
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