Perspective Therapeutics Announces Proposed Public Offering

SEATTLE, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Perspective Therapeutics, Inc. (“Perspective” or the “Company”) (NYSE AMERICAN: CATX), a radiopharmaceutical company that is pioneering advanced treatment applications for cancers throughout the body, today announced that it has commenced an underwritten public offering of shares of its common stock, and, to certain investors in lieu of common stock, pre-funded warrants to purchase shares of its common stock. The purchase price of each pre-funded warrant will equal the price per share at which shares of common stock are being sold to the public in this offering, minus $0.001, which will be the per share exercise price of each pre-funded warrant. In addition, Perspective intends to grant the underwriters an option for a period of 30 days to purchase up to an additional 15% of the shares of its common stock sold in the public offering at the public offering price, less underwriting discounts and commissions. All of the securities to be sold in the public offering are being offered by Perspective.

Concurrent with the public offering, Perspective intends to sell, subject to the consummation of the proposed 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 (the “Securities Act”), 56,342,355 shares of its common stock to Lantheus Alpha Therapy, LLC (“Lantheus”), representing 19.99% of the number of shares of common stock that were outstanding as of January 8, 2024. The shares are expected to be sold to Lantheus at a price per share equal to the public offering price.

Oppenheimer & Co. and B. Riley Securities are acting as joint book-running managers for the public offering.

The proposed public offering and concurrent private placement are subject to market conditions and there can be no assurance as to whether or when the offerings may be completed, or as to the actual size or terms of the public offering or concurrent private placement.

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.