AEterna names agent for $5.5 million registered direct stock offering

By Devika Patel

Knoxville, Tenn., Oct. 20 - AEterna Zentaris Inc. reported that agent Rodman & Renshaw, LLC will assist the company with a $5.5 million registered direct offering of stock in an 8-K filing with the Securities and Exchange Commission. The deal priced Oct. 19.

The company will sell approximately 4.58 million common shares, with warrants for approximately 1.83 million additional shares, at $1.20 per share. The warrants are each exercisable at $1.25 for five years.

Settlement is expected 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.

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