Genprex’s legalised direct offering in millions

Image Credit: Genprex

Announcement 

Genprex, Inc., a leading clinical-level gene therapy company aiming to develop and advance life-changing therapies for diabetes and cancer patients, has signed a definitive agreement for the sale and purchase of 377.780 shares of common stock at a buyout worth $9.00 per share in an officially registered direct offering priced at the market following NASDAQ rules. In a coexisting private placement, Genprex will grant unregistered short-term warrants to buy an estimated value of around 755.560 shares of common stock at a strike cost of $8.75 per share that will quickly strike on the issuance with the validity of twenty-four months starting from the effective date of a registration specified statement. A registration of shares resale of common stock entitling the warrants. The last date of the offering is predicted to appear on or about 29^th October 2025, entitled to the content of customary closing conditions.

Registered direct offering in detail

H.C. Wainwright & Co. will be a subsidiary placement agent for this offering. Genprex’s gross proceeds from this offering are likely around $3.4 million before deduction of the remaining offering expenses and placement agent fees considered payable by the company. The capable additional gross proceeds to the company from the short-term warrants on or if strikable on a cash basis, will reach $6.6 million. There will be no assurance claiming short-term warrants to exercise for cash or any other source. Genprex plans to use the net proceeds from this granting for general corporate purposes and working capital.

The mentioned shares of the common stock granted in the registered direct offering excluding unregistered short term warrants issued in the coexisting private placement and neither the shares of the common stock considering the unregistered short term warrants elaborated above are been provided by the genprex’s pursuant to a shelf registration statement on the form S-3 (File no. 333-271386) that was announced valid by the SEC on 9^th june 2023. The unregistered warrants mentioned herein and the shares of the common stock issued on exercise of these kinds of warrants are provided in a private placement under section 4(a)(2) of the Securities Act of 1933.

The granting of the shares of common stock in the legalised direct offering is considered only by means of a prospectus involving a prospectus supplement, building a position of the effective registration statement. A fixed accompanying prospectus and prospectus supplement regarding the registered direct offering will be filed with the SEC. Additionally, the electronic copies will be available at the SEC’s official website and at H.C. Wainwright’s said address and contact details.