Benzinga | Feb 17, 2021 05:54AM EST

Aeterna Zentaris Increases Previously Announced Bought Deal Offering of Common Shares to 20.509M Priced @$1.45/Share

Aeterna Zentaris Inc. (NASDAQ:AEZS) (TSX:AEZS) announced that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 20,509,746 common shares of Aeterna, at a price to the public of $1.45 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about February 19, 2021, subject to satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

Aeterna also has granted to the underwriter a 30-day option to purchase up to 3,076,461 additional common shares at the public offering price, less underwriting discounts and commissions.

The gross proceeds are expected to be approximately $29.7 million, before deducting underwriting discounts and commissions and other offering expenses payable by Aeterna. Aeterna intends to use the net proceeds from the offering for general corporate purposes, which includes, among other purposes, the investigation of further therapeutic uses of Macrilen™ (macimorelin), the expansion of pipeline development activities, the further expansion of commercialization of macimorelin in available territories and the potential funding of a pediatric clinical trial in the E.U. and U.S. for macimorelin.