Zosano Pharma Announces Pricing of $15.4 Million Public Offering of Common Stock and Warrants
Maxim Group LLC is acting as the sole book-running manager for the offering.
The gross proceeds of the offering are expected to be approximately $15.4 million before deducting underwriting discounts and commissions and estimated offering expenses and excluding the exercise of any warrants and the underwriter’s option to purchase additional securities. This offering is expected to close on or about February 10, 2022, subject to customary closing conditions. Zosano intends to use the net proceeds from this offering for pre-commercialization activities and for general working capital and corporate purposes.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on July 14, 2021. The offering is being made only by means of a written prospectus and prospectus supplement that will form a part of the registration statement. A final prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Alternatively, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained from Maxim Group LLC,
This press release shall not constitute an offer to sell or a 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 Zosano Pharma
To the extent that statements contained in this press release are not descriptions of historical facts regarding Zosano, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor of the Private Securities Litigation Reform Act of 1995, including regarding the offering, the expected closing date of the offering and the intended use of proceeds from the offering. Such forward-looking statements involve substantial risks and uncertainties that could cause Zosano’s future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties related to market conditions, the completion of the public offering on the anticipated terms or at all, and the potential use of proceeds therefrom. Zosano undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Zosano’s business in general, please refer to Zosano’s prospectus supplement to be filed with the SEC, including the documents incorporated by reference therein, which include Zosano’s Annual Report on Form 10-K filed with the SEC on March 11, 2021 and Zosano’s other periodic reports filed with the SEC.
Chief Financial Officer
Source: Zosano Pharma Corporation