Ms. Jenene Thomas reports
AETERNA ZENTARIS ANNOUNCES $4.5 MILLION REGISTERED DIRECT OFFERING PRICED AT-THE-MARKET
Aeterna Zentaris Inc. has entered into a securities purchase agreement with several institutional investors in the United States providing for the sale and issuance of approximately 3,478,261 common shares at a purchase price of $1.29375 per common share in a registered direct offering priced at the market under Nasdaq rules. The offering is expected to result in gross proceeds to Aeterna Zentaris of approximately $4.5-million.
Aeterna Zentaris will also issue to the purchasers unregistered warrants to purchase up to a total of 2,608,696 common shares. The warrants will be exercisable for a period of 5-1/2 years, exercisable immediately following the issuance date, and will have an exercise price of $1.20 per common share.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The registered direct offering and concurrent private placement is expected to close on or about Feb. 21, 2020, subject to the satisfaction of customary closing conditions.
The common shares described above (but not the warrants or the common shares underlying the warrants) are being offered by Aeterna Zentaris pursuant to a shelf registration statement on Form F-3, which was previously declared effective by the U.S. Securities and Exchange Commission (SEC) on Aug. 15, 2019. Such common shares may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.
A prospectus supplement relating to the common shares will be filed by Aeterna Zentaris with the SEC. When filed with the SEC, copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may be obtained at the SEC's website. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be obtained by contacting H.C. Wainwright & Co. at 430 Park Avenue, third floor, New York, N.Y., 10022, or by telephone at 646-975-6996 or by e-mail.
About Aeterna Zentaris Inc.
Aeterna Zentaris is a specialty biopharmaceutical company commercializing and developing therapeutics and diagnostic tests.
We seek Safe Harbor.
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