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Aeterna Zentaris Announces Amendment to Series B Warrants
Aeterna Zentaris Announces Amendment to Series B Warrants Aeterna Zentaris Announc...
About this update from Cosciens Biopharma Inc.
[{"type":"text","content":"\n\n\n\nAeterna Zentaris Announces Amendment to Series B Warrants\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAeterna Zentaris Announces Amendment to Series B Warrants\nCanada NewsWire\nQUEBEC CITY, Sept. 21, 2015\n\n\n\nAll amounts are in US dollars\n\n\n\nQUEBEC CITY, Sept. 21, 2015 /CNW Telbec/ - Aeterna Zentaris Inc. (NASDAQ: AEZS)(TSX: AEZ) (the \"Company\") announced today that it has entered into definitive agreements with the holders (the \"Consenting Holders\") of approximately 90% of its outstanding Series B Common Share Purchase Warrants (the \"Series B Warrants\") that are intended to reduce the dilutive effect of the exercise of the Series B Warrants by establishing a cap on the number of shares issuable upon alternate net cashless exercise (\"Net Cashless Exercise\") of the Series B Warrants until the close of business on November 17, 2015 and by limiting the number of shares that the Consenting Holders may sell until the close of business on October 9, 2015.  The Company was advised by Maxim Group LLC (\"Maxim\") in its negotiations with the holders of the Series B Warrants.  The effectiveness of the amendments to the Series B Warrants is subject to the approval of the Toronto Stock Exchange.\n\nDavid A. Dodd, Chairman, President and Chief Executive Officer of the Company remarked regarding the agreements, \"We believe that the agreements we reached with the Consenting Holders should temporarily reduce the selling pressure on our stock by limiting the additional dilution from the Net Cashless Exercise of Series B Warrants.  We appreciate the willingness of our Series B Warrant holders to work with us on this important step toward a resolution of the issues confronting our capital structure.  We also are grateful to Maxim for helping us to reach agreement with our Series B Warrant holders in an efficient manner.\"\n\nUnder the terms of the agreements, the number of Common Shares issuable per Series B Warrant with respect to Net Cashless Exercises prior to the close of business on November 17, 2015 may not exceed 33.23 based on a...