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Aquestive Therapeutics, Inc. Announces $8.5 Million Registered Direct Offering
WARREN, N.J., June 06, 2022 (GLOBE NEWSWIRE) -- Aquestive Therapeutics, Inc. (NASDAQ: AQST), a pharmaceutical company advancing medicines to solve patients’
About this update from Aquestive Therapeutics, Inc.
[{"type":"text","content":"WARREN, N.J., June 06, 2022 (GLOBE NEWSWIRE) -- Aquestive Therapeutics, Inc. (NASDAQ: AQST), a pharmaceutical company advancing medicines to solve patients’ problems with current standards of care and provide transformative products to improve their lives, today announced that it has entered into definitive agreements with a single healthcare-focused institutional investor and certain of the Company’s executives, for the purchase and sale of 8,850,000 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 8,850,000 shares of common stock at a purchase price per share (and accompanying warrant) of $0.96 for the institutional investor and $1.09 for the Company’s executives in a registered direct offering. The warrants to be issued to the institutional investor and the Company’s executives will have a five-year term, will become exercisable six months following the date of issuance and will have an exercise price of $0.96 per share. The closing of the offering is expected to occur on or about June 8, 2022, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $8.5 million. The Company intends to use the net proceeds from the offering for general corporate purposes. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as a financial advisor for the offering. This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-254775) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected]. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that are incorporated by reference in such prospectus supplement...