CRXT - Clarus Therapeutics secures $15M capital raise in private placement

Clarus Therapeutics (NASDAQ:CRXT) down 1.2% premarket after entering into an agreement to sell securities in a private placement with a leading healthcare investor. Expected gross proceeds are ~$15M. As per the agreement, Clarus will issue 3,024,194 units at a price of $4.96/unit. Each unit consists of one share of common stock and a warrant to purchase one common share at an exercise price of $5.25/share. Net proceeds will be used to support growth initiatives for company's near-term commercial objectives for its oral testosterone replacement product, Jatenzo. Closing date is December 7, 2021. Recently, the company secures two U.S. patents for Jatenzo (testosterone undecanoate).

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Clarus Therapeutics secures $15M capital raise in private placement