Perspective Therapeutics prices 132.08M shares at 37c in public offering

Perspective Therapeutics announced the pricing of an underwritten public offering of 132,075,218 shares of its common stock at a public offering price of $0.37 per share and, to certain investors in lieu of common stock, pre-funded warrants to purchase 30,086,944 shares of its common stock at a price of $0.369 per pre-funded warrant. The aggregate gross proceeds from this public offering are expected to be approximately $60.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by Perspective in connection with the public offering. The purchase price per share of each pre-funded warrant represents the per share public offering price for the common stock, minus the $0.001 per share exercise price of such pre-funded warrant. All of the shares of common stock and pre-funded warrants to be sold in the public offering are being sold by Perspective. In addition, Perspective has granted the underwriters an option for a period of 30 days to purchase up to an additional 24,324,324 shares of Perspective’s common stock at the public offering price, less underwriting discounts and commissions. Oppenheimer & Co. and B. Riley Securities are acting as joint book-running managers for the public offering. Concurrent with the public offering, Perspective has agreed to sell, subject to the consummation of the public offering and satisfaction of other customary closing conditions, in a previously announced private placement exempt from the registration requirements of the Securities Act of 1933, as amended, 56,342,355 shares of its common stock to Lantheus Alpha Therapy, LLC at a price per share equal to the public offering price, for total gross proceeds of approximately $20.8 million. The aggregate gross proceeds from the public offering and the concurrent private placement are expected to be approximately $80.8 million, before underwriting discounts and commissions and other offering expenses payable by Perspective, and without giving effect to any exercise by the underwriters of their option to purchase additional shares. The public offering and the concurrent private placement are expected to close on or about January 22, 2024, subject to the satisfaction of customary closing conditions. Perspective intends to use the net proceeds that it will receive from the public offering and concurrent private placement for general corporate purposes, which may include research and development expenditures, preclinical study and clinical trial expenditures, manufacturing expenditures, commercialization expenditures, working capital, capital expenditures, acquisitions of new technologies, products or businesses and investments.