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Outlook Therapeutics Announces Closing of $35.0 Million Bought Deal
MONMOUTH JUNCTION, N.J., Feb. 02, 2021 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc. (Nasdaq: OTLK) (“Outlook Therapeutics”), a late clinical-stage
About this update from Outlook Therapeutics, Inc.
[{"type":"text","content":"MONMOUTH JUNCTION, N.J., Feb. 02, 2021 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc. (Nasdaq: OTLK) (“Outlook Therapeutics”), a late clinical-stage biopharmaceutical company working to develop the first FDA-approved ophthalmic formulation of bevacizumab-vikg for use in retinal indications, today announced the closing of its previously announced underwritten public offering of 35,000,000 shares of common stock of the Company at a price to the public of $1.00 per share. As previously announced, the company has granted the underwriter a 30-day option to purchase up to 5,250,000 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. H.C. Wainwright & Co. acted as the sole book-running manager for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, acted as financial advisor to the Company. GMS Ventures and Investments, an affiliate of Outlook Therapeutics’ largest stockholder and strategic partner, BioLexis Pte. Ltd., purchased directly or through an affiliate $8.36 million of the shares of common stock offered in the offering at the public offering price per share. The gross proceeds to Outlook Therapeutics, before deducting underwriting discounts and commissions and offering expenses are approximately $35.0 million. 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 were offered by Outlook Therapeutics pursuant to a registration statement on Form S-3 (File No. 333-231922) originally filed with the Securities and Exchange Commission (the “SEC”) on June 3, 2019 and declared effective by the SEC on June 26, 2019. The offering of the shares of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC's website at http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (646) 975-6996 or e-mail at [email protected]. As previously announced, Outlook Therapeutics also entered int...