Business
SCYNEXIS Announces Closing of $35 Million Public Offering of Common Stock and Warrants
JERSEY CITY, N.J., Dec. 12, 2019 /PRNewswire/ -- SCYNEXIS, Inc. (NASDAQ : SCYX) today announced the closing of its previously announced underwritten public
About this update from Scynexis, Inc.
[{"type":"text","content":"JERSEY CITY, N.J., Dec. 12, 2019 /PRNewswire/ -- SCYNEXIS, Inc. (NASDAQ : SCYX) today announced the closing of its previously announced underwritten public offering of 38,888,889 shares of common stock and warrants to purchase up to 38,888,889 shares of common stock. Each share of common stock and warrant to purchase one share of common stock were sold at a combined public offering price of $0.90 per share and accompanying warrant. The total gross proceeds to SCYNEXIS from this offering were approximately $35 million, including the exercise of the underwriters' option to purchase additional warrants, before deducting underwriting discounts and commissions and other estimated offering expenses, and excluding the exercise of any warrants. All of the shares of common stock and warrants were offered by SCYNEXIS. \nH.C. Wainwright & Co. acted as sole book-running manager for the offering. Aegis Capital Corp., Brookline Capital Markets, a division of Arcadia Securities, LLC, Maxim Group LLC and WBB Securities acted as the co-managers for the offering.\nThe warrants have an exercise price of $1.10 per share and exercise period commencing immediately upon issuance and an expiration date of the earlier of (i) such date that is six months after SCYNEXIS publicly announces the approval from the U.S. Food and Drug Administration for ibrexafungerp for the treatment of vulvovaginal candidiasis and (ii) June 12, 2023. There is no established public trading market for the warrants, and SCYNEXIS does not expect a market to develop.\nA shelf registration statement relating to the securities being sold in this offering was filed with the U.S. Securities and Exchange Commission (SEC) on August 31, 2018, and was declared effective on September 14, 2018. The offering is being made only by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available for free on the SEC's website located at http://www.sec.gov. When available, electronic copies of the final prospectus supplement and accompanying prospectus relating to the public offering may be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, or by telephone at (646) 975-6996, or by email to [email protected]. \nThis pr...