Clarus Therapeutics Announces Pricing of Upsized $30.0 Million Underwritten Public Offering
25 Abril 2022 - 8:20AM
Clarus Therapeutics Holdings, Inc. (Clarus) (Nasdaq:CRXT), a
pharmaceutical company dedicated to providing solutions to unmet
medical needs by advancing androgen and metabolic therapies for men
and women, today announced the pricing of its underwritten public
offering of (i) units consisting of 26,680,720 shares of its common
stock and accompanying Class A warrants to purchase up to
26,680,720 shares of its common stock and (ii) units consisting of
pre-funded warrants to purchase up to 590,000 shares of common
stock and accompanying Class A warrants to purchase up to 590,000
shares of common stock. Each share of common stock (or pre-funded
warrant) is being sold together with one Class A warrant at a
combined purchase price of $1.10 per unit (or $1.10 (less) $0.001
(the exercise price of the pre-funded warrants) for units
comprising pre-funded warrants and accompanying Class A warrants).
Clarus also granted the underwriter an option to purchase up to an
additional 4,090,608 shares of common stock and/or Class A warrants
to purchase up to 4,090,608 shares of common stock. The Class A
warrants will be immediately exercisable at a price of $1.10 per
share and will expire five years from the date of issuance. The
shares of common stock (or pre-funded warrants in lieu thereof) and
accompanying Class A warrants can only be purchased together in the
offering, but will be issued separately and will be immediately
separable upon issuance. The pre-funded warrants and the Class A
warrants will not be listed on any exchange. Gross proceeds, before
deducting underwriting discounts and commissions and estimated
offering expenses, and excluding the proceeds from the exercise of
any Class A warrants and the exercise of the underwriter’s
overallotment option, are expected to be approximately $30.0
million. The offering is expected to close on April 27, 2022,
subject to customary closing conditions.
Clarus expects to use the net proceeds from the offering,
together with its existing cash, for working capital and other
general corporate purposes.
Maxim Group LLC is acting as sole
book-running manager for the offering.
Registration statements on Form S-1 relating to the securities
have been filed with the U.S. Securities and Exchange Commission
(SEC) and become effective. The offering is being made only by
means of a prospectus, copies of which may be obtained by
contacting Maxim Group LLC, 300 Park Avenue, 16th Floor, New York,
New York 10022. Copies of the registration statement can be
accessed through the SEC's website at www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Clarus Therapeutics Holdings, Inc.Clarus
Therapeutics Holdings, Inc. is a pharmaceutical company with
expertise in developing androgen and metabolic therapies for men
and women – including potential therapies for orphan indications.
Clarus Therapeutics’ first commercial product is JATENZO
(testosterone undecanoate). For more information, visit
www.clarustherapeutics.com and www.jatenzo.com. Follow us on
Twitter (@Clarus_Thera) and LinkedIn (Clarus Therapeutics).
Clarus Forward-Looking StatementsCertain
statements in this press release constitute “forward-looking
statements” for purposes of the federal securities laws. The words
“anticipate,” “believe,” “contemplate,” “continue,” “could,”
“estimate,” “expect,” “intends,” “may,” “might,” “plan,”
“possible,” “potential,” “predict,” “project,” “should,” “will,”
“would” and similar expressions may identify forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking. Clarus’ forward-looking
statements in this press release include, but are not limited to,
statements regarding the anticipated timing of and Clarus’ ability
to close the offering in a timely fashion and its anticipated use
of the net proceeds from the offering. These forward-looking
statements are based on current expectations and beliefs concerning
future developments and their potential effects. There can be no
assurance that future developments affecting Clarus will be those
anticipated. These forward-looking statements involve a number of
risks, uncertainties (some of which are beyond Clarus’ control) or
other assumptions that may cause actual results or performance to
be materially different from those expressed or implied by these
forward-looking statements. These risks and uncertainties include,
but are not limited to, statements regarding the anticipated timing
of and Clarus’ ability to close the offering in a timely fashion
and those factors described under the heading “Risk Factors” in the
Registration Statement on Form S-1 (SEC File No. 333-264231) as
filed with the SEC on April 25, 2022, and those that are included
in any of Clarus’ future filings with the SEC. Some of these risks
and uncertainties may in the future be amplified by the ongoing
COVID-19 pandemic and there may be additional risks that Clarus
considers immaterial, or which are unknown. It is not possible to
predict or identify all such risks. Clarus’ forward-looking
statements only speak as of the date they are made, and Clarus does
not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
JATENZO® is a registered trademark of Clarus Therapeutics
Holdings, Inc.
Clarus Contact:Kara StancellVice President,
Investor Relations & Corporate
Communicationskstancell@clarustherapeutics.com(847) 562-4300 x
206
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