SCYX - SCYNEXIS plunges on pricing $45M in stock and pre-funded warrants offering
SCYNEXIS (NASDAQ:SCYX) slumps 17.2% premarket after it priced its earlier announced underwritten public offering of 3.33M shares of its common stock, prefunded warrants to purchase 11.67M shares of common stock and warrants to purchase an aggregate of 15M shares of its common stock with gross proceeds expected to be ~$45M. The shares and warrants are being sold at $3.00/share and pre-funded warrants are offered at $2.999/pre-funded warrant and accompanying warrants. Underwriters over-allotment is an additional 2.25M of shares and/or warrants to purchase up to 2.25M shares of common stock. All of the shares of common stock, pre-funded warrants and warrants are being offered by SCYNEXIS. The shares of common stock, pre-funded warrants and warrants will be issued separately. The warrants have a seven-year term and an exercise price of $3.45/share. The pre-funded warrants and the warrants are exercisable immediately upon issuance.
For further details see:
SCYNEXIS plunges on pricing $45M in stock and pre-funded warrants offering