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Kiora Pharmaceuticals Announces Closing of $6.3 Million Underwritten Public Offering and Full Exercise of Over-Allotment Option
Encinitas, California--(Newsfile Corp. - June 6, 2023) - Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX) ("Kiora" or the "Company") today announced the closing of
About this update from Kiora Pharmaceuticals, Inc.
[{"type":"text","content":"Encinitas, California--(Newsfile Corp. - June 6, 2023) - Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX) (\"Kiora\" or the \"Company\") today announced the closing of an underwritten public offering for gross proceeds of approximately $6.3 million, which includes full exercise of the underwriter's over-allotment option to purchase additional shares and warrants, prior to deducting underwriting discounts and commissions and offering expenses.\nThe offering was comprised of (i) 1,447,628 shares of common stock, (ii) 3,908 shares of Series F Convertible Preferred Stock, (iii) 5,000,000 Class C Warrants with an initial exercise price of $1.10 per share and a term of five years following the issuance date, and (iv) 5,000,000 Class D Warrants with an initial exercise price of $1.10 per share and a term of one year following the issuance date. The price per share of common stock, Class C Warrant and Class D Warrant was $1.10. The price per share of Series F convertible preferred stock, Class C Warrant to purchase 909 shares of common stock and Class D Warrant to purchase 909 shares of common stock was $999.90.\nLadenburg Thalmann & Co. Inc. acted as sole book-running manager in connection with this offering.\nThe securities issued at closing include 750,000 shares of common stock, Class C Warrants to purchase up to 750,000 shares of common stock and Class D Warrants to purchase up to 750,000 shares of common stock, issued upon the full exercise of the over-allotment option. The securities were offered pursuant to a registration statement on Form S-1 (File No. 333-271699), which was declared effective by the United States Securities and Exchange Commission (\"SEC\") on June 1, 2023.\nThis press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A final prospectus relating to this offering was filed by Kiora with the SEC on June 2, 2023. Copies of the final prospectus can be obtained at the SEC's website at http://www.sec.gov or from Ladenburg Thalmann & Co. Inc., Prospectus Department, 640 Fifth Avenue, 4th Floor, New York, New York 10019 or by email at [email protected].\nAbout Kiora Pharm...