Novus Therapeutics Announces Closing of $10.7 Million Registered Direct Offering Priced At-the-Market
Novus also issued unregistered warrants to purchase up to 6,898,224
shares of common stock. The warrants were issued in two tranches. The
first tranche of warrants to purchase up to 3,449,112 shares of common
stock have an exercise price of
The gross proceeds to Novus, before deducting placement agent fees and
other offering expenses, are approximately
The shares of common stock described above (but not the warrants or the
shares of common stock underlying the warrants) were offered pursuant to
a "shelf" registration statement (File 333-226286) filed with the
The warrants described above were offered in a private placement under
Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"),
and Regulation D promulgated thereunder and, along with the shares of
common stock underlying the warrants, have not been registered under the
Act, or applicable state securities laws. Accordingly, the warrants and
underlying shares of common stock may not be offered or sold in
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About
Forward-Looking Statements
This press release contains forward‐looking statements that involves
substantial risks and uncertainties. Any statements about the company’s
future expectations, plans and prospects, including statements about its
strategy, future operations, development of its product candidates, and
other statements containing the words “believes,” “anticipates,”
“plans,” “expects,” “estimates,” “intends,” “predicts,” “projects,”
“targets,” “looks forward,” “could,” “may,” and similar expressions,
constitute forward‐looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, although not all
forward‐looking statements include such identifying words.
Forward‐looking statements include, but are not limited to statements
regarding: risks related to market conditions, the completion of the
common stock and warrant financing, including the satisfaction of the
closing conditions, and the use of anticipated proceeds; expectations
regarding the timing for the commencement and completion of product
development or clinical trials, including the four ongoing OP0201
clinical trials; expectations regarding the success of clinical trials;
the rate and degree of market acceptance and clinical utility of the
company’s products; the company’s commercialization, marketing and
manufacturing capabilities and strategy; the company’s intellectual
property position and strategy; the company’s ability to identify
additional products or product candidates with significant commercial
potential; the company’s estimates regarding expenses, future revenue,
capital requirements and needs for additional financing; developments
relating to the company’s competitors and industry; and the impact of
government laws and regulations. Actual results may differ materially
from those indicated by such forward‐looking statements as a result of
various important factors, including: the ability to develop
commercially viable product formulations; the sufficiency of the
company’s cash resources; the ability to obtain necessary regulatory and
ethics approvals to commence additional clinical trials; whether data
from early clinical trials will be indicative of the data that will be
obtained from future clinical trials; whether the results of clinical
trials will warrant submission for regulatory approval of any
investigational product; whether any such submission will receive
approval from the
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Source:
Investor Contacts
Timothy McCarthy
LifeSci Advisors, LLC
Tel:
212-915-2564
tim@lifesciadvisors.com