Aytu BioPharma (AYTU) announced the pricing of an upsized public offering of 9,600,000 shares of common stock at an effective public offering price of $1.50. In addition, Aytu has granted the underwriters a 30-day option to purchase up to an additional 1,440,000 shares of its common stock at the public offering price. The offering is expected to close on or about June 9, subject to the satisfaction of customary closing conditions. Gross proceeds to the Company, before deducting underwriters’ fees and other offering expenses, are expected to be approximately $14.4M. The Company intends to use the net proceeds of this offering for general corporate purposes, working capital and general and administrative expenses, and to execute on a transaction that will enable the Company to exclusively commercialize EXXUA extended-release tablets, a novel, branded, FDA-approved treatment for major depressive disorder in the United States. Lake Street Capital Markets is acting as sole book runner in connection with the offering. Maxim Group is acting as lead manager, and Ascendiant Capital Markets is acting as financial advisor.
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