Better Therapeutics issues $6.7M in common stock under its at-the-market program

Better Therapeutics announced that it issued 2,023,583 shares of its common stock under its At-The-Market program at an average price per share of $1.19. In addition, the Company entered into a definitive purchase agreement for the purchase and sale of 2,897,654 shares of its common stock in a private placement at a price per share of $0.73, and in a concurrent registered direct offering, the Company entered into a definitive purchase agreement for the purchase and sale of 3,859,649 shares of its common stock at a price per share of $0.57. Total gross proceeds from these equity offerings amount to $6.7 million at an average price of $0.77 per share, before deducting offering expenses and commissions payable by Better Therapeutics. The private placement was principally with officers and directors of the Company and the registered direct offering was with one institutional investor. Better Therapeutics intends to use the net proceeds to support the launch of AspyreRx, a prescription-only digital therapy recently authorized by the U.S. Food and Drug Administration to treat adults with type 2 diabetes. Chardan and Titan Partners Group, a division of American Capital Partners, LLC, are acting as co-placement agents for the registered direct offering and concurrent private placement.