TEL AVIV, Israel, April 1, 2020 /PRNewswire/ -- Therapix
Biosciences Ltd. ("Therapix" or the "Company") (Nasdaq: TRPX), a
specialty, clinical-stage pharmaceutical company focusing on the
development of cannabinoid-based treatments, today announced the
pricing of a public offering for the issuance of an aggregate of
4,166,668 units, each consisting of (i) one pre-funded warrant to
purchase one American depositary share ("ADS") and (ii) one Series
B warrant to purchase one ADS, at a purchase price of $0.2999
per unit. The Series B warrants will have an exercise price of
$0.43 per ADS, will be exercisable
upon issuance and will expire five years from the date of
issuance.
The offering is expected to result in gross proceeds to Therapix
of approximately $1.25 million.
Therapix intends to use the net proceeds from the offering for
working capital and general corporate purposes, and pursuing
strategic opportunities, including business combination
transactions.
The closing of the sale of the securities is expected to take
place on April 3, 2020, subject to satisfaction of customary
closing conditions.
Roth Capital Partners is acting as the sole agent for the
offering on a "best efforts" basis.
The securities described above were offered pursuant to a
registration statement on Form F-1 (File No. 333-236175), which was
declared effective by the United States Securities and Exchange
Commission ("SEC") on March 31, 2020. A preliminary prospectus
relating to the securities being offered was filed with the SEC on
March 31, 2020 and is available on
the SEC's website at http://www.sec.gov. Electronic copies of the
final prospectus relating to the offering may be obtained, when
available, by contacting Roth Capital Partners, 888 San Clemente
Drive, Suite 400, Newport Beach,
CA 92660, (800) 678-9147 or at the SEC's website at
http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, 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 any such state or jurisdiction.
About Therapix Biosciences (Nasdaq: TRPX):
Therapix Biosciences Ltd. is a specialty clinical-stage
pharmaceutical company led by an experienced team of senior
executives and scientists. Our focus is creating and enhancing a
portfolio of technologies and assets based on cannabinoid
pharmaceuticals. With this focus, the company is currently engaged
in the following drug development programs based on
tetrahydrocannabinol (THC) and/or non-psychoactive cannabidiol
(CBD): THX-110 for the treatment of Tourette syndrome and for the
treatment of obstructive sleep apnea; THX-160 for the treatment of
pain; and THX-210 for the treatment of autism spectrum
disorder and epilepsy. Please visit our website for more
information at www.therapixbio.com, the content of which is
not a part of this press release.
Forward-Looking Statements:
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. Forward-looking statements in this press release
include statements regarding the proposed offering, the successful
closing of the offering and planned use of the net proceeds from
the offering. Because such statements deal with future events and
are based on Therapix's current expectations, they are subject to
various risks and uncertainties, including the satisfaction of
closing conditions, and actual results, performance or achievements
of Therapix could differ materially from those described in or
implied by the statements in this press release. The
forward-looking statements contained or implied in this press
release are subject to other risks and uncertainties, including
those discussed under the heading "Risk Factors" in Therapix's
registration statement on Form F-1 filed with the SEC on
March 31, 2020. Except as otherwise
required by law, Therapix disclaims any intention or obligation to
update or revise any forward-looking statements, which speak only
as of the date they were made, whether as a result of new
information, future events or circumstances or otherwise.
Investor Contact:
Oz Adler, CFO
IR@therapixbio.com
Tel: +972-3-6167055
info@therapixbio.com
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SOURCE Therapix Biosciences Ltd.