VYNE - VYNE Therapeutics Announces Closing of Previously Announced Private Placement of $88.2 Million | Benzinga
BRIDGEWATER, N.J., Nov. 01, 2023 (GLOBE NEWSWIRE) -- VYNE Therapeutics Inc. (NASDAQ:VYNE) ("VYNE" or the "Company"), a clinical-stage biopharmaceutical company developing proprietary, innovative and differentiated therapies for the treatment of immuno-inflammatory conditions, today announced the closing of its previously announced private placement financing (the "PIPE"). In the PIPE, VYNE received aggregate gross proceeds of $88.2 million, before deducting placement agent fees and offering expenses, from the sale of 10,652,543 shares of common stock at a purchase price of $2.245 per share and, in lieu of common stock to certain investors, pre-funded warrants to purchase up to an aggregate of 28,614,437 shares of common stock at a purchase price of $2.2449 per pre-funded warrant. Each pre-funded warrant has an exercise price of $0.0001 per share of common stock and is immediately exercisable and will remain exercisable until exercised in full. The PIPE was priced to satisfy the "Minimum Price" requirement set forth in the Nasdaq listing rules.
LifeSci Capital LLC acted as the exclusive placement agent for the PIPE.
All of the securities in the PIPE were offered by VYNE. The offer and sale of the securities sold in the PIPE, including the shares of common stock underlying the pre-funded warrants, were made in a transaction not involving a public offering and have not been registered under the Securities Act ...