Scynexis Inc. announced on Thursday the closing of its previously announced underwritten public offering of shares of its common stock.
According to Scynexis, each share, and warrant to purchase one share, of common stock were sold at a combined public offering price of $0.90 per share and accompanying warrant.
The total gross proceeds to Scynexis from this offering were approximately $35 million, including the exercise of the underwriters’ option to purchase additional warrants, before deducting underwriting discounts and commissions and other estimated offering expenses, and excluding the exercise of any warrants. All of the shares of common stock and warrants were offered by Scynexis .
The warrants have an exercise price of $1.10 per share and exercise period commencing immediately upon issuance and an expiration date of the earlier of such date that is six months after Scynexis publicly announces the approval from the U.S. Food and Drug Administration for ibrexafungerp for the treatment of vulvovaginal candidiasis and June 12, 2023.
There is no established public trading market for the warrants, and Scynexis does not expect a market to develop.
A shelf registration statement relating to the securities being sold in this offering was filed with the U.S. Securities and Exchange Commission (SEC) on Aug. 31, 2018, and was declared effective on Sept. 14, 2018. The offering is being made only by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available for free on the SEC’s website.