Auris Medical (NASDAQ:EARS)
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6 Meses : De Abr 2019 até Out 2019
Auris Medical Holding Ltd. (NASDAQ: EARS), a clinical-stage company dedicated to developing therapeutics that address important unmet medical needs in neurotology and central nervous system disorders, announced today the pricing of an underwritten public offering of: (i) 330,000 common shares together with warrants to purchase 330,000 common shares, and (ii) 1,721,280 pre-funded warrants, with each pre-funded warrant exercisable for one common share, together with warrants to purchase 1,721,280 common shares. The combined public offering price per common unit is $3.90 and $3.89 per pre-funded unit. The pre-funded warrants will have an initial per share exercise price of CHF 0.01, are exercisable immediately and will expire when exercised in full. The common share warrants will have an initial per share exercise price of CHF 4.34, subject to customary adjustment, are exercisable immediately and will expire 5 years from the date of issuance. The gross proceeds to Auris Medical Holding Ltd. from this offering are expected to be approximately $8 million, before deducting underwriting discounts and commissions and other estimated offering expenses. Auris Medical Holding Ltd. has granted the underwriters a 45-day option to purchase up to an additional 307,692 common shares and/or additional warrants to purchase up to 307,692 common shares to cover over-allotments, if any. The offering is expected to close on May 15, 2019, subject to customary closing conditions.
A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) and became effective on May 10, 2019 and is available on the SEC's website located at http://www.sec.gov. An additional registration statement on Form F-1 (File No. 333-231403) relating to these securities has been filed with the SEC and became effective immediately upon filing under Rule 462(b) under the Securities Act of 1933, as amended.
The offering will be made only by means of a prospectus. A copy of the prospectus relating to the offering may be obtained, when available, by contacting A.G.P./Alliance Global Partners, 590 Madison Avenue, 36th Floor, New York, NY 10022 or via telephone at 212-624-2006 or email: email@example.com. Investors may also obtain these documents at no cost by visiting the SEC's website at http://www.sec.gov. Before investing in this offering, interested parties should read in their entirety the prospectus and the other documents that Auris Medical Holding Ltd. has filed with the SEC that are incorporated by reference in such prospectus, which provide more information about Auris Medical Holding Ltd. and such offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Auris Medical
Auris Medical is a biopharmaceutical company dedicated to developing therapeutics that address important unmet medical needs in neurotology and mental health supportive care. The company is focused on the development of intranasal betahistine for the treatment of vertigo (AM-125) and for the prevention of antipsychotic-induced weight gain and somnolence (AM-201). These projects have gone through two Phase 1 trials and will move into proof-of-concept studies in 2019. In addition Auris Medical has two Phase 3 programs under development: Sonsuvi® (AM-111) for acute inner ear hearing loss and Keyzilen® (AM-101) for acute inner ear tinnitus. The Company was founded in 2003 and is headquartered in Hamilton, Bermuda with its main operations in Basel, Switzerland. The shares of Auris Medical Holding Ltd. trade on the NASDAQ Capital Market under the symbol “EARS.”
This press release may contain statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or Auris Medical’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may”, “might”, “will”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “potential”, “outlook” or “continue”, or the negative of these terms or other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include, but are not limited to, statements regarding the proposed public offering, Auris Medical’s need for and ability to raise substantial additional funding to continue the development of its product candidates, the ability to pursue strategic partnering and non-dilutive funding for its Phase 3 programs Sonsuvi® and Keyzilen®, the results of Auris Medical’s review of strategic options and the outcome of any action taken as a result of such review, the timing and conduct of clinical trials of Auris Medical’s product candidates, the clinical utility of Auris Medical’s product candidates, the timing or likelihood of regulatory filings and approvals, Auris Medical’s intellectual property position and Auris Medical’s financial position, including the impact of any future acquisitions, dispositions, partnerships, license transactions or changes to Auris Medical’s capital structure, including future securities offerings. These risks and uncertainties also include, but are not limited to, those described under the caption “Risk Factors” in Auris Medical’s Annual Report on Form 20-F for the year ended December 31, 2018, and in Auris Medical's other filings with the SEC, which are available free of charge on the Securities Exchange Commission's website at: www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to Auris Medical or to persons acting on behalf of Auris Medical are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and Auris Medical does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.
Investor contact: Joseph Green Edison Advisors for Auris Medical 646-653-7030 / 7719 firstname.lastname@example.org