SCYNEXIS Announces Pricing of $35 Million Public Offering of Common Stock and Warrants

About this update from Scynexis, Inc.

[{"type":"text","content":"JERSEY CITY, N.J., Dec. 10, 2019 /PRNewswire/ -- SCYNEXIS, Inc. (NASDAQ: SCYX) today announced the pricing 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 are being sold at a combined public offering price of $0.90 per share and accompanying warrant. The gross proceeds to SCYNEXIS from this offering are expected to be approximately $35 million, 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 are being offered by SCYNEXIS. \nH.C. Wainwright & Co. is acting as sole book-running manager for the offering. \nThe warrants will 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.\nIn addition, SCYNEXIS has granted the underwriters a 30-day option to purchase up to an additional 5,833,333 shares of common stock and/or warrants to purchase up to 5,833,333 shares of common stock, at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about December 12, 2019, subject to customary closing conditions. A 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 preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and a final prospectus supplement and accompanying prospectus will be filed with the SEC and will be available for free on the SEC's website located at http://www.sec.gov. When available, electronic copies of the final prospectus ...

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