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Outlook Therapeutics Announces Closing of $10.2 Million Financing Priced At-The-Market Under Nasdaq Rules
MONMOUTH JUNCTION, N.J., June 25, 2020 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc. (Nasdaq: OTLK) (“the Company”), a late clinical-stage biopharmaceutical
About this update from Outlook Therapeutics, Inc.
[{"type":"text","content":"MONMOUTH JUNCTION, N.J., June 25, 2020 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc. (Nasdaq: OTLK) (“the Company”), a late clinical-stage biopharmaceutical company working to develop the first FDA-approved ophthalmic formulation of bevacizumab for use in retinal indications, today announced that it has closed its previously announced registered direct offering priced at-the-market under Nasdaq rules of 8,407,411 shares of its common stock, at a purchase price of $1.215 per share, for aggregate gross proceeds of approximately $10.2 million.\n H.C. Wainwright & Co. acted as the exclusive placement agent. Outlook Therapeutics intends to use the net proceeds from the offering for working capital and general corporate purposes, including in support of its ONS-5010 development program. The shares of common stock offered in the offering were offered and sold by Outlook Therapeutics pursuant to a \"shelf\" registration statement on Form S-3 (Registration No. 333-231922), including a base prospectus, previously filed with and declared effective by the Securities and Exchange Commission (“SEC”) on June 26, 2019. The offering of the shares of common stock in the registered direct offering was made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and an accompanying base prospectus relating to the offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement and accompanying base prospectus may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at 646-975-6996 or e-mail at [email protected]. As previously announced, Outlook Therapeutics also entered into a definitive purchase agreement with Syntone Ventures, LLC for the purchase and sale in a private placement of 823,045 shares of its common stock at a purchase price of $1.215 per share, for aggregate gross proceeds of approximately $1.0 million, which is anticipated to close on or about July 21, 2020, subject to satisfaction of customary closing conditions. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale...