Company sells units with five-year warrants via bookrunner Maxim Group
By Devika Patel
Knoxville, Tenn., Dec. 9 – Aeterna Zentaris Inc. said it priced a $16.65 million public sale of units with a $1.83 million greenshoe. The offering was announced Tuesday.
The company will sell 3 million units of one common share and 0.7 warrants at $5.55 per unit, with each whole warrant exercisable at $7.10 for five years. The strike price is identical to the Dec. 7 closing share price.
Maxim Group LLC is the bookrunner.
Settlement is expected Dec. 14.
Proceeds will be used for drug development, potential product additions, general corporate purposes and working capital.
Aeterna Zentaris is a specialty biopharmaceutical company based in Quebec.
| Issuer: | Aeterna Zentaris Inc.
|
| Issue: | Units of one common share and 0.7 warrants
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| Amount: | $16.65 million
|
| Greenshoe: | $1,831,500, or 330,000 units
|
| Units: | 3 million
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| Price: | $5.55
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| Warrants: | 0.7 warrants per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $7.10
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| Bookrunner: | Maxim Group LLC
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| Announcement date: | Dec. 8
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| Pricing date: | Dec. 9
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| Settlement date: | Dec. 14
|
| Stock symbol: | Nasdaq: AEZS
|
| Stock price: | $7.10 at close Dec. 7
|
| Market capitalization: | $32.08 million
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