Lexaria Bioscience prices $1.6M registered direct offering

Lexaria Bioscience announced that it has entered into a securities purchase agreement with a single healthcare-focused institutional investor to purchase 1,618,330 shares of common stock in a registered direct offering. In a concurrent private placement, the Company also agreed to issue and sell to the investor warrants to purchase up to 1,618,330 shares of common stock. The combined effective offering price for each share of common stock (or pre-funded warrant in lieu thereof) and accompanying warrant is $0.97. The warrants will become exercisable six months from issuance, expire five and a half years from the issuance date and have an exercise price of $0.97 per share. Maxim Group LLC is acting as the sole placement agent in connection with the offering.