Iterum Therapeutics prices 5.56M shares at 90c in registered direct offering

Iterum Therapeutics (ITRM) has entered into a definitive agreement with a single institutional investor for the purchase and sale of an aggregate of 5,555,556 ordinary shares at a purchase price of $0.90 per ordinary share in a registered direct offering. The closing of the Offering is expected to occur on or about April 30, 2025, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the Offering. The gross proceeds to the Company from the Offering are expected to be approximately $5 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for working capital and general corporate and operational purposes. Although the Company has not yet identified specific uses for these proceeds, the Company currently anticipates using the proceeds to fund both its ongoing strategic process and pre-commercialization activities. In the event its strategic process does not result in any type of transaction, the net proceeds will be used for expenses related to pre-commercialization and commercialization activities including product manufacturing, sales, marketing and distribution for ORLYNVAH, and for other general corporate and working capital purposes.