- Outlook Therapeutics ( NASDAQ: OTLK ) has entered into securities purchase agreements with existing institutional and accredited investors for the purchase and sale of ~28.46M shares at a purchase price of $0.8784 per share.
- Gross proceeds of approximately $25M.
- The offering included participation by GMS Ventures and Investments, Outlook Therapeutics’ largest stockholder.
- The offering is expected to close on December 28, 2022.
- The company intends to use the net proceeds from the offering for support of its ONS-5010 development program as well as working capital and other general corporate purposes, which may include the repayment of debt.
- Stock up 2.6% pre-market.
For further details see:
Outlook Therapeutics up 3% on $25M direct offering