ZyVersa Therapeutics, Inc. Announces Pricing of $5.0 Million Public Offering
06 Diciembre 2023 - 8:00PM
ZyVersa Therapeutics, Inc. (Nasdaq: ZVSA, or “ZyVersa” or “the
Company”), a clinical stage specialty biopharmaceutical company
developing first-in-class drugs for treatment of inflammatory and
renal diseases with high unmet needs, announced today the pricing
of a “reasonable best efforts” public offering of 4,000,000 shares
of common stock (or pre-funded warrants in lieu thereof) and
accompanying Series A and Series B warrants to purchase up to an
aggregate of 8,000,000 shares of common stock at a combined public
offering price of $1.25, resulting in gross proceeds of
approximately $5.0 million. The Series A Warrants to purchase up to
an aggregate of 4,000,000 shares of common stock and Series B
Warrants to purchase up to an aggregate of 4,000,000 shares of
common stock will have an exercise price of $1.25 per share, will
be exercisable immediately following the date of issuance and will
expire five years and eighteen months from the original issuance
date, respectively.
The closing of the offering is expected to occur
on or about December 11, 2023, subject to the satisfaction of
customary closing conditions. The Company intends to use the net
proceeds of this offering for working capital and other general
corporate purposes.
A.G.P./Alliance Global Partners is acting as the
sole placement agent for the offering.
The securities described above are being offered
pursuant to a registration statement on Form S-1 (File No.
333-275320) previously filed with the Securities and Exchange
Commission (SEC) which became effective on December 6, 2023. The
offering is being made only by means of a prospectus forming part
of the effective registration statement. A preliminary prospectus
relating to the offering has been filed with the SEC. An electronic
copy of the final prospectus will be filed with the SEC and may be
obtained, when available, on the SEC’s website located at
http://www.sec.gov and may also be obtained from A.G.P./Alliance
Global Partners, 590 Madison Avenue, 28th Floor, New York, NY
10022, or by telephone at (212) 624-2060, or by email at
prospectus@allianceg.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, 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 ZyVersa Therapeutics
ZyVersa (Nasdaq: ZVSA) is a clinical stage
specialty biopharmaceutical company leveraging advanced,
proprietary technologies to develop first-in-class drugs for
patients with renal and inflammatory diseases who have significant
unmet medical needs. The Company is currently advancing a
therapeutic development pipeline with multiple programs built
around its two proprietary technologies – Cholesterol Efflux
Mediator™ VAR 200 for treatment of kidney diseases, and
Inflammasome ASC Inhibitor IC 100, targeting damaging inflammation
associated with numerous CNS and other inflammatory diseases. For
more information, please visit www.zyversa.com.
Cautionary Statement Regarding
Forward-Looking Statements
Certain statements contained in this press
release regarding matters that are not historical facts, are
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. These include statements
regarding management’s intentions, plans, beliefs, expectations, or
forecasts for the future, and, therefore, you are cautioned not to
place undue reliance on them. No forward-looking statement can be
guaranteed, and actual results may differ materially from those
projected. ZyVersa Therapeutics, Inc (“ZyVersa”) uses words such as
“anticipates,” “believes,” “plans,” “expects,” “projects,”
“future,” “intends,” “may,” “will,” “should,” “could,” “estimates,”
“predicts,” “potential,” “continue,” “guidance,” and similar
expressions to identify these forward-looking statements that are
intended to be covered by the safe-harbor provisions. Such
forward-looking statements are based on ZyVersa’s expectations and
involve risks and uncertainties; consequently, actual results may
differ materially from those expressed or implied in the statements
due to a number of factors, including market and other conditions,
ZyVersa’s ability to satisfy all conditions precedent to the
closing of the offering; ZyVersa’s plans to develop and
commercialize its product candidates, the timing of initiation of
ZyVersa’s planned preclinical and clinical trials; the timing of
the availability of data from ZyVersa’s preclinical and clinical
trials; the timing of any planned investigational new drug
application or new drug application; ZyVersa’s plans to research,
develop, and commercialize its current and future product
candidates; the clinical utility, potential benefits and market
acceptance of ZyVersa’s product candidates; ZyVersa’s
commercialization, marketing and manufacturing capabilities and
strategy; ZyVersa’s ability to protect its intellectual property
position; and ZyVersa’s estimates regarding future revenue,
expenses, capital requirements and need for additional
financing.
New factors emerge from time-to-time, and it is
not possible for ZyVersa to predict all such factors, nor can
ZyVersa assess the impact of each such factor on the business or
the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in
any forward-looking statements. Forward-looking statements included
in this press release are based on information available to ZyVersa
as of the date of this press release. ZyVersa disclaims any
obligation to update such forward-looking statements to reflect
events or circumstances after the date of this press release,
except as required by applicable law.
This press release does not constitute an offer
to sell, or the solicitation of an offer to buy, any
securities.
Corporate and IR Contact:Karen
CashmereChief Commercial
Officerkcashmere@zyversa.com786-251-9641
Media ContactsTiberend
Strategic Advisors, Inc.Casey
McDonaldcmcdonald@tiberend.com646-577-8520
Dave
Schemeliadschemelia@tiberend.com609-468-9325
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