AcelRx announces $7.5M registered direct offering

AcelRx "announced it has entered into an agreement with a life sciences-focused investment fund for the sale of 748,744 shares of its common stock, pre-funded warrants exercisable for an aggregate of 2,632,898 shares of common stock and common warrants exercisable for an aggregate of 4,227,052 shares of common stock. The shares of common stock and accompanying common warrants are being sold at a combined offering price of $2.22625 per share and accompanying common warrant, and the pre-funded warrants and accompanying common warrants are being sold at a combined offering price of $2.22615 per pre-funded warrant and accompanying common warrant. The pre-funded warrants are immediately exercisable following closing of the offering and will have an exercise price of $0.0001 per share. The common warrants will not be exercisable until after the six-month anniversary of the closing of the offering, will have an exercise price of $2.07 per share and will expire on the date that is six years following the closing of the offering. AcelRx estimates gross proceeds from the offering of approximately $7.5 million, before deducting fees payable to the placement agent and other estimated offering expenses payable by the Company, excluding the proceeds, if any, from the exercise of the pre-funded warrants and the common warrants. The offering is expected to close on December 29, 2022, subject to satisfaction of customary closing conditions. Cantor is acting as sole placement agent for the offering."