AETERNA ZENTARIS ANNOUNCES PRICING OF $12 MILLION PUBLIC OFFERING
CHARLESTON, S.C., July 01, 2020 (GLOBE NEWSWIRE) -- Aeterna
Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZS) ( the “Company”), a specialty biopharmaceutical company commercializing and developing therapeutics and diagnostic tests, today announced the
pricing of a public offering of 26,666,666 units at a price to the public of $0.45 per unit, for gross proceeds of $12 million, before deducting placement agent fees and other offering expenses
payable by the Company. Each unit contains one common share (or common share equivalent) and one common warrant to purchase one common share. The common shares (or common share equivalents) and
common share warrants included in the units can only be purchased together in this offering but will be issued separately and will be immediately separable upon issuance. The offering is expected
to close on or about July 7, 2020, subject to satisfaction customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
Each common share warrant has an exercise price of $0.45 per share, is exercisable immediately and will expire five years from the date of issuance.
The Company intends to use the net proceeds of this offering for general corporate purposes, which includes, among other purposes, the funding of a pediatric clinical trial in the E.U. and U.S. for Macrilen (macimorelin), the investigation of further therapeutic uses of macimorelin and the expansion of pipeline development activities.
The securities described above are being offered by Aeterna Zentaris pursuant to an effective registration statement on Form F-1 (File No. 333-232935) filed with the Securities and Exchange Commission (“SEC”) and declared effective on July 1, 2020. The offering is being made only by means of a prospectus forming part of the effective registration statement. The final terms of the offering will be disclosed in a final prospectus to be filed with the SEC and made available on the SEC's website at www.sec.gov. Electronic copies of the final prospectus, when available, may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (646) 975-6996 or by email at email@example.com.