Clarus Therapeutics Announces Closing of Upsized $30.0 Million Underwritten Public Offering
27 Abril 2022 - 12:43PM
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 closing of its previously announced
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) was 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).
The Class A warrants are 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 could only be
purchased together in the offering, but were issued separately and
were immediately separable upon issuance. The pre-funded warrants
and the Class A warrants are not 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, were approximately $30.0
million. In addition, Clarus has granted the underwriters a
45-day 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 to cover over-allotments at the offering
price, less the underwriting discount, of which Maxim Group LLC has
exercised its option to purchase an additional 4,090,608 Class A
warrants.
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 acted 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 was
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).
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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