2023-10-02 07:48:12 ET
- Vistagen Therapeutics ( NASDAQ: VTGN ) has priced $100M underwritten offering at a combined purchase price of $5.38 per share of common stock, accompanying T1 Warrant and accompanying T2 Warrant.
- The offering consists of 15,010,810 common shares, accompanying warrants to purchase up to 9,294,022 shares of the company's common stock at an exercise price of $5.38 per share or pre-funded warrant, and accompanying warrants to purchase up to 11,265,086 shares of its common stock at an exercise price of $8.877 per share and to certain investors in lieu of common stock, pre-funded warrants to purchase up to 3,577,240 shares of Vistagen common stock, accompanying T1 Warrants and accompanying T2 Warrants at a combined price of $5.379.
- The net proceeds along with its existing cash and cash equivalents will be used for research, development, manufacturing, and regulatory expenses associated with development of its product candidates, including, primarily, its PALISADE Phase 3 program for fasedienol for the acute treatment of anxiety in adults with social anxiety disorder, and for other working capital and general corporate purposes.
- VTGN +2% premarket to $5.35
- Source: Press Release
For further details see:
Vistagen prices $100M underwritten offering