Zynerba Pharmaceuticals Announces Proposed Public Offering of Common Stock
July 19 2018 - 4:01PM
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) today announced that it
intends to offer and sell, subject to market conditions, shares of
its common stock in an underwritten public offering. All of
the shares to be sold in the offering will be offered by
Zynerba. The offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering. In addition, Zynerba intends to grant the underwriters a
30-day option to purchase up to an additional 15% of the shares of
its common stock offered in the public offering.
Cantor Fitzgerald & Co. is acting as the
sole book-running manager.
Zynerba intends to use the net proceeds of the
proposed offering to support the clinical development of ZYN002,
for additional research and development, and for general corporate
purposes, which may include capital expenditures and funding our
working capital needs.
The offering is being made pursuant to a shelf
registration statement on Form S-3 previously filed with the
Securities and Exchange Commission (the “SEC”) on June 9, 2017 and
declared effective by the SEC on June 22, 2017. The offering will
be made only by means of a written prospectus and prospectus
supplement that form a part of the registration statement. A
preliminary prospectus supplement and accompanying prospectus
related to the offering will be filed with the SEC and will be
available on the website of the SEC at www.sec.gov. Copies of
the preliminary prospectus supplement and the accompanying
prospectus, when available, may also be obtained from Cantor
Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 6th
Floor, New York, NY 10022, by telephone at 212-829-7122 or by email
at prospectus@cantor.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, 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 such
state or jurisdiction.
About Zynerba Pharmaceuticals,
Inc.
Zynerba Pharmaceuticals is the leader in
pharmaceutically-produced transdermal cannabinoid therapies for
rare and near-rare neuropsychiatric disorders. We are committed to
improving the lives of patients and their families living with
severe, chronic health conditions including Fragile X syndrome and
refractory epilepsies.
Cautionary Statement on Forward Looking
StatementsThis press release contains forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995. We may, in some cases, use terms such as
“predicts,” “believes,” “potential,” “proposed,” “continue,”
“estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,”
“could,” “might,” “will,” “should” or other words that convey
uncertainty of future events or outcomes to identify these
forward-looking statements. Such statements are subject to numerous
important factors, risks and uncertainties that may cause actual
events or results to differ materially from the Company’s current
expectations. Management’s expectations and, therefore, any
forward-looking statements in this press release could also be
affected by risks and uncertainties relating to a number of other
factors, including risks and uncertainties associated with market
conditions and the satisfaction of customary closing conditions
related to the proposed offering and the Company’s expectations
regarding the completion, timing and size of its public offering
and the use of proceeds therefrom. This list is not exhaustive and
these and other risks are described in the Company’s periodic
reports, including the annual report on Form 10-K, quarterly
reports on Form 10-Q and current reports on Form 8-K, filed with or
furnished to the Securities and Exchange Commission and available
at www.sec.gov. Any forward-looking statements that the Company
makes in this press release speak only as of the date of this press
release. The Company assumes no obligation to update
forward-looking statements whether as a result of new information,
future events or otherwise, after the date of this press
release.
Investor Contact
Will Roberts, FP Investor Relations and Corporate
CommunicationsZynerba
Pharmaceuticals484.581.7483robertsw@zynerba.com
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