Brief: ERYTECH Announces $7.85 Mln Registered Direct Offering With Armistice

Phaxiam Therapeutics SA

14/12/2021 06:40

Dec 14 (Reuters) - ERYTECH Pharma SA  ERYP.PA :
    * ERYTECH ANNOUNCES $7.85 MILLION REGISTERED DIRECT OFFERING
    * HAS ENTERED INTO A DEFINITIVE AGREEMENT WITH ARMISTICE, A
HEALTH-CARE FOCUSED INSTITUTIONAL AND ACCREDITED INVESTOR, FOR
PURCHASE AND SALE OF 769,608 UNITS
    * GROSS PROCEEDS TO ERYTECH FROM THE SALE OF THE UNITS,
BEFORE
DEDUCTING PLACEMENT AGENT FEES AND OFFERING EXPENSES, ARE
EXPECTED TO BE APPROXIMATELY $7.85 MILLION
    * SUBSCRIPTION PRICE FOR ONE UNIT IS $10.20 (EUR 9.04),
CORRESPONDING TO $2.55(EUR 2.26) PER ADS AND ASSOCIATED
0.75WARRANT
    * EACH ADS REPRESENTS RIGHT TO RECEIVE ONE ORDINARY SHARE,
EUR
0.10 NOMINAL VALUE, OF COMPANY
    * WARRANTS HAVE AN EXERCISE PRICE OF EUR 2.83($3.19) PER
SHARE,
WILL BE IMMEDIATELY EXERCISABLE UPON ISSUANCE AND WILL EXPIRE
TWO YEARS FROM ISSUANCE DATE
    * CLOSING OF OFFERING IS EXPECTED TO OCCUR ON OR ABOUT
DECEMBER
20, 2021, SUBJECT TO SATISFACTION OF CUSTOMARY CLOSING
CONDITIONS
    * FOLLOWING THE CLOSING OF THIS OFFERING, ARMISTICE WILL
HOLD 9.9%
OF THE SHARE CAPITAL AND VOTING RIGHTS OF THE COMPANY (ON A
NON-DILUTED BASIS)

Source text for Eikon:  ID:nGNE25Lmzt 
Further company coverage:  ERYP.PA 

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