Lexaria Bioscience prices $3.6M registered direct offering at $2.31 per share

Lexaria Bioscience announced that it has entered into definitive agreements for the purchase and sale of 1,558,443 shares of common stock at a purchase price of $2.31 per share in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company will issue unregistered warrants to purchase up to 1,558,443 shares of common stock at an exercise price of $2.185 per share that will be immediately exercisable upon issuance and will expire five years following the date of issuance. The closing of the offering is expected to occur on or about February 16, 2024, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.