Genprex announces $6.5M registered direct offering priced at the market

Genprex announced that it has entered into definitive agreements for the sale and issuance of 1,542,112 shares of common stock of the company and warrants to purchase up to 1,542,112 shares of common stock at a combined offering price of $4.215 per share of common stock and accompanying warrant, in a registered direct offering priced at-the-market under the Nasdaq rules. The warrants have an exercise price of $4.09 per share, will be exercisable on the date of issuance, and will expire five years following the date of issuance. The closing of the offering is expected to occur on or about March 21, 2024, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to Genprex from this offering are expected to be approximately $6.5M, before deducting the placement agent’s fees and other offering expenses. Genprex intends to use the net proceeds from this offering for working capital and general corporate purposes.