SCYNEXIS Announces Pricing of $45 Million Public Offering of Common Stock, Pre-Funded Warrants and Warrants

About this update from Scynexis, Inc.

[{"type":"text","content":"JERSEY CITY, N.J., April 22, 2022 (GLOBE NEWSWIRE) -- SCYNEXIS, Inc. (Nasdaq: SCYX) today announced the pricing of its underwritten public offering of common stock, pre-funded warrants and warrants. The shares and warrants are being sold at a public offering price of $3.00 per share and accompanying warrants, and the pre-funded warrants are being sold at a public offering price of $2.999 per pre-funded warrant and accompanying warrants. The gross offering proceeds to SCYNEXIS from this offering are expected to be approximately $45.0 million, before deducting the underwriting discount and other estimated offering expenses, and excluding the exercise of any pre-funded warrants or warrants. All of the shares of common stock, pre-funded warrants and warrants are being offered by SCYNEXIS. At closing, SCYNEXIS will issue 3,333,333 shares of its common stock, pre-funded warrants to purchase an aggregate of 11,666,667 shares of common stock and warrants to purchase an aggregate of 15,000,000 shares of its common stock. The pre-funded warrants will be issued to certain purchasers who have elected to purchase them in lieu of shares of common stock in this offering, as those purchasers would otherwise have exceeded 19.99% (or such lesser percentage as required by the investor) beneficial ownership of our common stock immediately following the offering. The shares of common stock, pre-funded warrants and warrants will be issued separately. The warrants have a seven-year term and an exercise price of $3.45 per share. The pre-funded warrants and the warrants are exercisable immediately upon issuance. The warrants will be certificated and will be delivered to the investors by physical delivery following the closing. There is no established public trading market for the pre-funded warrants or the warrants, and SCYNEXIS does not expect a market to develop. In addition, SCYNEXIS has granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of common stock and/or warrants to purchase up to 2,250,000 shares of common stock, at their respective public offering prices, less the underwriting discounts and commissions. Guggenheim Securities, LLC and Cantor Fitzgerald & Co. are serving as joint book-running managers for the offering. Ladenburg Thalmann & Co. Inc. and Maxim Group LLC are serving as co-lead managers for th...

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