On June 24, 2024 Rezolute, Inc. (Nasdaq: RZLT) ("Rezolute" or the "Company"), a late-stage biopharmaceutical company committed to developing novel, transformative therapies for serious rare diseases, reported the closing of its underwritten public offering of 11,250,000 shares of its common stock at a price to the public of $4.00 per share and, to certain investors in lieu of common stock, pre-funded warrants to purchase 3,750,000 shares of its common stock at a price to the public of $3.999 per pre-funded warrant, in each case, before underwriting discounts and commissions (Press release, Rezolute, JUN 24, 2024, View Source [SID1234644506]). All of the shares and warrants in the public offering were sold by the Company.
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The Company received net proceeds of approximately $56.4 million from the public offering, after deducting underwriting discounts and commissions and estimated offering expenses. In addition to general corporate activities and post-Phase 3 planning for its RZ358 program in congenital hyperinsulinism (cHI), Rezolute intends to use the net proceeds from the offering to fund activities towards initiation and conduct of a potential late-stage, registrational, clinical study of RZ358 in patients with tumor hyperinsulinism (tHI) resulting from islet cell (insulinomas) and non-islet cell tumors (NICTs).
Jefferies and Cantor served as the joint book-running managers for the offering. BTIG, Craig-Hallum, H.C. Wainwright & Co., Jones and Maxim Group LLC are acting as co-managers for the offering.
The public offering was made only by means of a prospectus supplement and accompanying prospectus that form a part of an effective registration statement. A final prospectus supplement related to the public offering was filed with the Securities and Exchange Commission (the "SEC") and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the public offering may also be obtained by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at 877-821-7388, or by email at [email protected] or Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at [email protected]
This press release does not constitute an offer to sell, or a solicitation of an offer to buy these securities, 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.