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Aeterna Zentaris prices public offering

Mar. 06, 2015 6:54 PM ETAeterna Zentaris Inc. (AEZS), AEZS:CAAEZSBy: Douglas W. House, SA News Editor
  • Aeterna Zentaris (NASDAQ:AEZS) prices its public offering of 59,677,420 units at $0.62 per unit. Each unit consists of one common share, 0.75 of a Series A warrant to purchase one common share and 0.50 of a Series B warrant to purchase one common share.
  • The Series A warrants can be exercised immediately at a price of $0.81 per share for a term of five years. The Series B warrants can be exercised immediately also at $0.81 per share but only for a term of 18 months.
  • The holders of 21.1M (96.5%) of the currently outstanding 21.9M warrants sold in previous unit offerings will receive a aggregate cash payment of $5.7M from the proceeds of this offering to terminate their holdings.
  • Closing date is March 11.
  • Net proceeds of ~$34.5M will fund the above $5.7M payment to current warrant holders, ongoing drug development activities, working capital and general corporate purposes.
  • Previously: Aeterna Zentaris initiates capital raise (March 5)

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