Lexaria to Receive $4.7 Million Gross Proceeds in Warrant Exercise and Issuance [Yahoo! Finance]
Lexaria Bioscience Corp. (LEXX)
Company Research
Source: Yahoo! Finance
in drug delivery platforms announces it has entered into a warrant exercise agreement with an existing accredited investor to exercise in full certain existing warrants to purchase an aggregate 2,917,032 shares of its common stock, as to 1,618,330 warrants exercised at an exercise price of $0.97 per share, and 1,298,702 warrants exercised at $2.185 per share, originally issued in October 2023 and February 2024, respectively. With this exercise, there are zero remaining warrants exercisable at $0.97 and 259,741 warrants unexercised at $2.185. The gross proceeds to the Company from the exercise are expected to be approximately $4.7 million, prior to deducting estimated offering expenses. In consideration for the early exercise of the existing warrants for cash, and the payment of $0.125 per each new warrant, aggregating $364,629 in proceeds to the Company, Lexaria is issuing 2,917,032 new warrants, each new warrant entitling the holder to purchase one (1) new share of common stock.
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Analyst Actions
- 3/5/24 - Maxim Group
LEXX
Sec Filings
- 5/15/24 - Form 4
- 5/10/24 - Form 4
- 5/10/24 - Form 4
- LEXX's page on the SEC website