ENGLEWOOD, CO / ACCESSWIRE / October 5, 2018 / Aytu BioScience, Inc. (NASDAQ: AYTU), a specialty biologic aggregation focused on all-around commercialization of atypical articles acclamation cogent medical needs, today appear the appraisement of an underwritten accessible alms with accepted absolute gross gain of $13.2 million, afore deducting underwriting discounts, commissions and added alms costs payable by the Company. The closing of the alms is accepted to booty abode on or about October 9, 2018, accountable to the achievement or abandonment of accepted closing conditions.
The balance offered by the Aggregation abide of (i) an accumulated of 457,007 shares of its Common Stock, (ii) an accumulated of 8,342,993 shares of its Series C Convertible Preferred Stock convertible into an accumulated of 8,342,993 shares of Common Stock at a about-face amount of $1.50 per share, and (iii) Warrants to acquirement an accumulated of 8,800,000 shares of Common Stock at an exercise amount of $1.50 per share. The balance will be issued at a accessible alms acquirement amount of $1.50 per anchored aggregate of (a) one allotment of Common Stock and one Warrant or (b) one allotment of Series C Preferred Stock and one Warrant. Each allotment of Series C Preferred Stock is convertible into one allotment of Common Stock. The Warrants will be exercisable aloft arising and will expire bristles years from the date of issuance. The about-face amount of the Series C Preferred Stock in the alms as able-bodied as the exercise amount of the Warrants are anchored and do not accommodate any capricious appraisement appearance or any amount based anti-dilutive features.
In addition, the Aggregation has accepted the underwriters a 45-day advantage to acquirement up to 1,320,000 added shares of Common Stock and/or added Warrants to acquirement up to 1,320,000 shares of Common Stock at the accessible alms amount per allotment and per Warrant, beneath the underwriting discounts and commissions.
The Aggregation intends to use the net gain from the alms for accepted accumulated purposes, including alive basic to abutment bartering activities primarily accompanying to Natesto and ZolpiMist and to complete ytic studies about our MiOXSYS System.
Ladenburg Thalmann & Co. Inc., a accessory of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS) is acting as sole book-running administrator for the alms and Northland Basic Markets is acting as co-manager for the offering.
The balance were offered pursuant to a allotment account on Form S-1 (File No. 333-227243), which was declared able by the United States Balance and Exchange Commission (“SEC”) on October 4, 2018 and an added allotment account filed pursuant to Rule 462(b) (File No. 333-227706), which became able back filed. The alms is actuality fabricated alone by agency of a prospectus. A final announcement apropos to this alms will be filed with the SEC. A archetype of the announcement may be acquired from: Ladenburg Thalmann & Co. Inc., 277 Park Avenue, 26th Floor, New York, NY 10172, Telephone: (212) 409-2000, or by emailing [email protected] Investors may additionally access these abstracts at no amount by visiting the SEC’s website at http://www.sec.gov.
This columnist absolution shall not aggregate an action to advertise or the address of an action to buy any of the balance declared herein, nor shall there be any auction of these balance in any accompaniment or administration in which such offer, address or auction would be actionable above-mentioned to allotment or accomplishment beneath the balance laws of any such accompaniment or jurisdiction.
About Aytu BioScience, Inc.
Aytu BioScience is a commercial-stage specialty biologic aggregation focused on all-around commercialization of atypical articles acclamation cogent medical needs. The aggregation currently markets Natesto®, the alone FDA-approved nasal conception of testosterone for men with hypogonadism (low testosterone, or “Low T”). Additionally, Aytu is developing MiOXSYS®, a novel, accelerated berry assay arrangement with the abeyant to become a accepted of affliction for the ysis and administration of macho infertility acquired by oxidative stress. MiOXSYS is commercialized alfresco of the U.S. area it is a CE Marked, Health Canada cleared, Australian TGA approved, Mexican COFEPRAS accustomed product, and Aytu is planning U.S.-based ytic trials in following of 510k de novo medical accessory approval by the FDA. Aytu afresh acquired absolute U.S. and Canadian rights to ZolpiMist™, an FDA-approved, commercial-stage decree beddy-bye aid adumbrated for the concise ysis of indisposition characterized by difficulties with beddy-bye initiation. Aytu’s action is to abide architecture its portfolio of revenue-generating products, leveraging its focused bartering aggregation and ability to body arch brands aural large, growing markets. For added advice appointment aytubio.com.
Statements independent herein that are not based aloft accepted or absolute actuality are advanced in attributes and aggregate advanced statements aural the acceptation of Section 27A of the Balance Act of 1933 and Section 21E of the Balance Exchange Act of 1934. Such advanced statements reflect the company’s expectations about its approaching operating results, achievement and opportunities that absorb abundant risks and uncertainties. Back acclimated herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target”, “intend” and “expect” and agnate expressions, as they chronicle to Aytu BioScience, Inc., its subsidiaries, or its management, are advised to yze such advanced statements. These advanced statements are based on advice currently accessible to the aggregation and are accountable to a cardinal of risks, uncertainties, and added factors that could account the company’s absolute results, performance, prospects, and opportunities to alter materially from those bidding in, or adumbrated by, these advanced statements. You are cautioned not to abode disproportionate assurance on these advanced statements, which allege alone as of the date of this columnist release. All advanced statements are able in their absoluteness by this cautionary account and our SEC filings. Please see the risks and uncertainties abundant in the “Forward-Looking Statements” and “Risk Factors” sections of our Annual Report on Form 10-K for the year concluded June 30, 2018, and in added abstracts and letters we book from time to time with the SEC.
For Investors & Media:
James CarbonaraHayden IR(646) [email protected]
SOURCE: Aytu BioScience, Inc.
View antecedent adaptation on accesswire.com: https://www.accesswire.com/513478/Aytu-BioScience-Announces-Pricing-of-132-Million-Underwritten-Public-Offering
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