Isoray, Inc. Announces Pricing of $9.5 Million Public Offering
RICHLAND, Wash., Oct. 20, 2020 (GLOBE NEWSWIRE) -- Isoray, Inc. (NYSE AMERICAN: ISR), a medical technology company and innovator in seed brachytherapy powering expanding treatment options
throughout the body, announced the pricing of its public offering of 18,269,230 shares of its common stock and warrants to purchase up to 9,134,615 shares of common stock at a combined offering
price to the public of $0.52 per share and accompanying warrant. The warrants have an exercise price of $0.57 per share of common stock, are exercisable immediately, and expire five years from the
date of issuance. Isoray intends to use the gross proceeds of approximately $9.5 million, before deducting underwriting discounts and commissions and estimated offering expenses, from the offering
to fund operations, research and development efforts, potential future acquisitions of complementary businesses or technologies, sales and marketing initiatives, and for general corporate purposes,
including general and administrative expenses, capital expenditures, and for general working capital purposes.
Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering.
The shares of common stock and the warrants to purchase shares of common stock were sold by Isoray pursuant to a "shelf" registration statement on Form S-3 that was originally filed on January 23, 2020, and declared effective by the Securities and Exchange Commission ("SEC") on February 4, 2020, and the base prospectus contained therein (File No. 333-236025).
Before investing in the offering, you should read in their entirety the preliminary prospectus supplement, the accompanying prospectus and the other documents that Isoray has filed with the SEC that are incorporated by reference in the preliminary prospectus supplement and the accompanying prospectus, which provide more information about Isoray and the offering.
Copies of the preliminary prospectus supplement and accompanying base prospectus may be obtained on the SEC's website at http://www.sec.gov or by contacting Oppenheimer & Co. Inc. at Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, New York 10004, by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.