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VYNE Therapeutics Announces $50 Million Registered Direct Offering of Common Stock Priced At-the-Market under Nasdaq Rules
BRIDGEWATER, N.J., Jan. 26, 2021 (GLOBE NEWSWIRE) -- VYNE Therapeutics Inc. (Nasdaq: VYNE) (“VYNE” or the “Company”), today announced that it has entered into
About this update from Vyne Therapeutics Inc.
[{"type":"text","content":"BRIDGEWATER, N.J., Jan. 26, 2021 (GLOBE NEWSWIRE) -- VYNE Therapeutics Inc. (Nasdaq: VYNE) (“VYNE” or the “Company”), today announced that it has entered into definitive agreements with institutional and accredited investors for the sale of an aggregate of 21,097,046 shares of its common stock at a purchase price of $2.37 per share in a registered direct offering priced at-the-market under Nasdaq Rules. The offering is expected to close on or about January 28, 2021, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds of the offering are expected to be approximately $50.0 million, prior to deducting placement agent’s fees and other offering expenses payable by VYNE. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes. The shares of common stock described above are being offered pursuant to a “shelf” registration statement (File No. 333-229482) filed with the Securities and Exchange Commission (“SEC”) and declared effective on February 12, 2019. Such shares of common stock may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the offering of the shares of common stock will be filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering of the shares of common stock may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail: [email protected] or by telephone: (646) 975-6996. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About VYNE Therapeutics Inc.In March 2020, Menlo Therapeutics Inc. (“Menlo”) and Foamix Pharmaceuticals Ltd. (“Foamix”) combined to form what is now known as VYNE Therapeutics Inc. VYNE’s m...