Perspective Therapeutics Announces Closing of $69.0 Million Public Offering and $20.8 Million Private Placement

SEATTLE, Jan. 22, 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 the closing of its previously announced underwritten public offering of (i) 156,399,542 shares of its common stock at the public offering price of $0.37 per share, including the exercise in full by the underwriters of their option to purchase up to an additional 24,324,324 shares of common stock and (ii) 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 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 sold in the public offering were sold by Perspective. Gross proceeds to Perspective in the public offering were approximately $69.0 million, before underwriting discounts and commissions and estimated expenses of the public offering.

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

Concurrent with the public offering, Perspective closed its previously announced private placement of 56,342,355 shares of its common stock to Lantheus Alpha Therapy, LLC at a price of $0.37 per share, for total gross proceeds of approximately $20.8 million.

The aggregate gross proceeds from the public offering and the concurrent private placement were approximately $89.8 million, before underwriting discounts and commissions and other offering expenses payable by Perspective.

Perspective intends to use the net proceeds 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.

The securities described above in the public offering were offered by Perspective pursuant to a shelf registration statement on Form S-3 (File No. 333-275638) initially filed with the Securities and Exchange Commission (the “SEC”) on November 17, 2023 and declared effective by the SEC on December 14, 2023.