- Lexaria, a global innovator in drug delivery platforms, recently announced that it had entered into a securities purchase agreement with a single health-focused institutional investor
- The agreement is for the purchase of 1,618,330 shares of common stock at $0.97 per share, with gross proceeds amounting to approximately $1.6 million
- The raised funds will be integral to Lexaria advancing its operations, inching it closer to FDA approval for its patented DehydraTECH(TM)-processed CBD for the potential treatment of hypertension
- It will also help assert Lexaria’s position as a leader in the market, even as it pushes the envelope in terms of research and development of its revolutionary DehydraTECH technology
Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, raised approximately $1.6 million from its latest round of investment in what will mark a significant milestone for the company. In September 2023, the company announced that it had entered into a securities purchase agreement with a single healthcare-focused institutional investor to purchase 1,618,330 shares of common stock at $0.97 per share. Maxim Group LLC acted as the sole placement agent in connection with the offering (https://cnw.fm/TNjLB).
The warrants will become exercisable six months from issuance, expiring five and a half years from the issuance date. These shares of common stock were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-262402), declared effective by the…
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX
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