Business
Kiora Pharmaceuticals Announces Private Placement for Up to $24 Million Led by Perceptive Advisors
Sole investors are Perceptive Advisors (new) and ADAR1 Capital Management Encinitas, California--(Newsfile Corp. - April 7, 2026) - Kiora Pharmaceuticals,
About this update from Kiora Pharmaceuticals, Inc.
[{"type":"text","content":"Sole investors are Perceptive Advisors (new) and ADAR1 Capital Management\nEncinitas, California--(Newsfile Corp. - April 7, 2026) - Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX) (the \"Company\"), today announced that it has closed on a private placement providing up to $24 million in gross proceeds, consisting of $5.0 million in upfront funding and up to an additional $19 million upon the exercise of accompanying milestone-based warrants. The sole investors in the private placement are Perceptive Advisors and ADAR1 Capital Management. No placement agent was engaged in connection with the transaction. The private placement was priced at-the-market under Nasdaq rules. Kiora intends to use the upfront proceeds from the private placement to support general corporate purposes, including business operations, strategic business development activities, and ongoing research and development.\nUnder the terms of the agreement, each share of common stock, or pre-funded warrant in lieu thereof, was sold together with four accompanying short-term Tranche A-1 common warrants and one accompanying Tranche A-2 common warrant at a combined purchase price of $2.543 per share. The Tranche A-1 common warrants have an initial term of up to 9 months, which is reduced to 30 days upon Kiora executing a strategic transaction that materially expands the market opportunity of the Company's therapeutic assets. The Tranche A-2 common warrants have an initial term of up to 4 years, which is reduced to 30 days upon any Kiora assets completing enrollment in a Phase 3 clinical trial. All of the common warrants are immediately exercisable at a price of $1.94 per share, representing potential aggregate gross proceeds to the Company of up to approximately $19 million if exercised in full.\nIn lieu of shares of common stock, the investors also received pre-funded warrants at a combined purchase price of $2.543 per pre-funded warrant and accompanying common warrants, which equals the purchase price per share of common stock and accompanying common warrants less $0.0001, which is equal to the exercise price of each pre-funded warrant. The transaction closed on April 6, 2026.\nThe offer and sale of the foregoing securities was made in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the \"Securities Act\"), and/or Regulation D promulga...