Genelux Corporation Announces Pricing of Approximately $27.5 Million Underwritten Offering of Common Stock and Accompanying Warrants

WESTLAKE VILLAGE, Calif., May 24, 2024 (GLOBE NEWSWIRE) -- Genelux Corporation (Genelux) (Nasdaq: GNLX), a late clinical-stage immuno-oncology company, today announced the pricing of an underwritten offering of 6,875,000 shares of its common stock and accompanying warrants to purchase 6,875,000 shares of its common stock at a combined offering price of $4.00 per share and accompanying warrant, in each case before underwriting discounts and commissions. Each warrant will have an exercise price of $5.25 per share, will be immediately exercisable following the closing of the offering and will expire five years from the date of issuance. Gross proceeds to Genelux from the offering are expected to be approximately $27.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Genelux. The net proceeds from the offering are expected to provide working capital into the first quarter of 2026 for general corporate purposes, including the continued clinical development of Olvi-Vec, with topline results of the OnPrime Phase 3 registrational trial anticipated in the second half of 2025. The offering is expected to close on or about May 29, 2024, subject to customary closing conditions. All of the securities are being sold by Genelux. In addition, Genelux has granted the underwriters a 30-day option to purchase up to an additional 1,031,250 shares of its common stock and accompanying warrants to purchase 1,031,250 shares of its common stock to cover over-allotments, if any.

Guggenheim Securities is acting as sole book-running manager for the offering. Newbridge Securities Corporation is acting as co-manager for the offering.

The securities were offered by Genelux pursuant to an effective shelf registration statement previously filed by Genelux with the U.S. Securities and Exchange Commission (SEC). A final prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC, and will be available on the SEC's website located at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by contacting: Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8^th Floor, New York, New York 10017, by telephone at [phone], or by email at [e-mail].