Transaction Information
Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX) announced the closing of an underwritten public offering for gross proceeds of approximately $6.3 million, which includes the full exercise of the underwriter's over-allotment option.
The offering was comprised of common stock, Class C Warrants and Class D Warrants at a purchase price of $1.10. In lieu of common stock, for beneficial ownership purposes, investors received Series F Convertible Preferred Stock at a purchase price of $999.90, each preferred share convertible into 909 common shares. A total of (i) 2,197,628 shares of common stock, (ii) 3,908 shares of Series F Convertible Preferred Stock, (iii) 5,750,000 Class C Warrants and (iv) 5,750,000 Class D Warrants were issued in the offering. The Class C Warrants and Class D warrants have an initial exercise price of $1.10 per share and a term of five years and one year, respectively.
Ladenburg Thalmann & Co. Inc. acted as sole book-running manager in connection with this offering.
About Kiora Pharmaceuticals, Inc.
Kiora Pharmaceuticals is a clinical-stage biotechnology company developing and commercializing products for the treatment of ophthalmic diseases. The company's lead programs, KIO-301 and KIO-101, are being developed for the treatment of retinitis pigmentosa and Ocular Presentation of Rheumatoid Arthritis (OPRA). For more information visit www.kiorapharma.com.
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.