Business
Evogene Announces Pricing of US$5.5 Million Registered Direct Offering and Concurrent Private Placement
REHOVOT, Israel, Aug. 23, 2024 /PRNewswire/ -- Evogene Ltd. ("Evogene" or the "Company") (Nasdaq: EVGN, TASE: EVGN), a leading computational biology company
About this update from Evogene Ltd.
[{"type":"text","content":"REHOVOT, Israel, Aug. 23, 2024 /PRNewswire/ -- Evogene Ltd. (\"Evogene\" or the \"Company\") (Nasdaq: EVGN, TASE: EVGN), a leading computational biology company aiming to revolutionize life-science-based product discovery and development utilizing cutting-edge computational biology technologies across multiple market segments, announced today that it has entered into definitive agreements with a single health-care focused institutional investor for the purchase and sale of 1,692,308 ordinary shares (or ordinary share equivalents in lieu thereof) in a registered direct offering. In a concurrent private placement, the Company also agreed to issue unregistered Series A ordinary warrants to purchase up to 1,692,308 ordinary shares, and unregistered Series B ordinary warrants to purchase up to 1,692,308 ordinary shares. Each ordinary share (or ordinary share equivalent in lieu thereof) is being sold with one Series A ordinary warrant to purchase one ordinary share and one Series B ordinary warrant to purchase one ordinary share at a combined purchase price of US$3.25 (the \"Offering\"). The Series A ordinary warrants will have an exercise price of US$3.55 per share, will be immediately exercisable upon issuance and will expire five years from issuance. The Series B ordinary warrants will have an exercise price of US$3.55 per share, will be immediately exercisable upon issuance and will expire eighteen months from issuance.\n\nThe closing of the Offering is expected to occur on or about August 26, 2024, subject to the satisfaction of customary closing conditions. The gross proceeds from the Offering are expected to be approximately US$5.5 million before deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes.\nA.G.P./Alliance Global Partners is acting as sole placement agent for the Offering.\nThe registered direct offering of the ordinary shares and ordinary share equivalents in lieu thereof will be issued in a registered direct offering pursuant to an effective shelf registration statement on Form F-3 (File No. 333-277565) previously filed with the U.S. Securities and Exchange Commission (the \"SEC\"), under the Securities Act of 1933, as amended (the \"Securities Act\"), and was declared effective by the SEC on March 2...