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Aeterna Zentaris readies $7.8M direct equity offering; shares off 9%

Published 10/27/2016, 10:12 AM
Aeterna Zentaris readies $7.8M direct equity offering; shares off 9%
  • Thinly traded nano cap Aeterna Zentaris (AEZS -8.6%) slumps on modestly higher volume in response to its announcement of a direct equity offering of 2.1M units at $3.60 to a single institutional investor.
  • Each unit consists of one share of common stock and 0.45 of a three-year warrant to purchase one share of common at $4.70.
  • Closing date is November 1. Net proceeds of ~$6.6M will fund the preparations and submissions of NDAs for Macrilen and Zoptrex, working capital and general corporate purposes.
  • Yesterday's close was $4.18.

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