Aeterna Zentaris to Raise US$7.8 Million in Registered Direct Offering

About this update from Cosciens Biopharma Inc.

[{"type":"text","content":"\n\n\nQUEBEC CITY, July 25, 2013 /CNW Telbec/ - Aeterna Zentaris Inc. (NASDAQ:\n AEZS) (TSX: AEZ) (the \"Company\") announced today that it has received\n commitments from institutional investors to purchase US$7.8 million of securities in a registered direct offering. Under the terms\n of a Securities Purchase Agreement, the Company will sell to such\n investors an aggregate of approximately 5.2 million common shares of\n its capital at a price of US$1.50 per share and issue warrants to\n acquire an aggregate of approximately 2.6 million common shares at an\n exercise price of US$1.85 per share.\n\n\nThe warrants to purchase additional common shares of Aeterna Zentaris\n will be exercisable at the end of the sixth month following their\n issuance and will expire on the fifth-year anniversary thereof. All of\n the securities were offered pursuant to an effective shelf registration\n statement filed in the United States. Proceeds from the transaction\n will be used by the Company to continue to fund its ongoing drug\n development activities, primarily for the advancement of the Company's\n zoptarelin doxorubicin (AEZS-108) program, secondly for its macimorelin\n acetate (AEZS-130) program, as well as for general corporate purposes\n and working capital. The offering is expected to be consummated on or\n about July 30, 2013, subject to customary closing conditions.\n\n\nBurrill Securities LLC acted as the exclusive placement agent for the\n transaction.\n\n\nThis press release shall not constitute an offer to sell or a\n solicitation of an offer to buy any securities nor shall there be any\n sale of such securities in any jurisdiction in which such offer,\n solicitation or sale would be unlawful prior to registration or\n qualification under the securities laws of any such jurisdiction. A\n shelf registration statement relating to the common shares and warrants\n issued in the offering (and the common shares issuable upon exercise of\n the warrants) has been filed with the Securities and Exchange\n Commission (the \"SEC\") and has been declared effective. A prospectus\n supplement relating to the offering will be filed by the Company with\n the SEC and the Canadian securities regulatory authorities. Copies of\n the prospectus supplement and accompanying prospectus may be obtained\n directly from the Company or by contacting A...

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