Genprex sells 7.43M shares ato $1.01 in registered direct offering

Genprex announced that it has entered into definitive agreements with healthcare-focused institutional investors for the sale and issuance of 7,425,744 shares of the company’s common stock and warrants to purchase up to 7,425,744 shares of common stock at a combined offering price of $1.01 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 $0.885 per share, will become exercisable commencing the date of issuance, and will expire five years following the issuance date. The closing of the offering is expected to occur on or about July 21, 2023, 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 $7.5M, 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.