Nabriva Therapeutics Announces $25.4 Million Registered Direct Offering Priced At-the-Market under Nasdaq Rules
March 01 2021 - 8:00AM
Nabriva Therapeutics plc (NASDAQ: NBRV), a biopharmaceutical
company engaged in the commercialization and development of
innovative anti-infective agents to treat serious infections, today
announced that it has entered into a definitive agreement with
certain healthcare-focused and institutional investors for the
purchase and sale of (i) an aggregate of 10,361,010 ordinary shares
(or pre-funded warrants in lieu thereof) and (ii) warrants to
purchase up to an aggregate of 5,180,505 ordinary shares in a
registered direct offering priced at-the-market under Nasdaq rules.
Each ordinary share and accompanying warrant are being sold
together at a combined purchase price of $2.4525, and each
pre-funded warrant and accompanying warrant are being sold together
at a combined purchase price of $2.4425. The warrants have an
exercise price of $2.39 per share, are exercisable on the issuance
date and will expire on the five-year anniversary of the issuance
date.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering.
The gross proceeds to Nabriva Therapeutics from
the offering, before deducting the placement agent’s fees and other
estimated offering expenses payable by Nabriva Therapeutics, are
approximately $25.4 million. The offering is expected to close on
or about March 3, 2021, subject to the satisfaction of customary
closing conditions.
The securities described above are being offered
and sold in this registered direct offering pursuant to a shelf
registration statement, including a prospectus, on Form S-3
(File No. 333-248530) that was filed by Nabriva Therapeutics with
the Securities and Exchange Commission (“SEC”) and was declared
effective on September 11, 2020. A prospectus supplement relating
to and describing the terms of the offering will be filed with the
SEC and will be available on the SEC’s website at www.sec.gov. The
offering is being made only by means of a prospectus and related
prospectus supplement. Electronic copies of the prospectus and
related prospectus supplement may also be obtained, when available,
by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue,
3rd Floor, New York, NY 10022, via telephone at (646)
975-6996 or via email at placements@hcwco.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy Nabriva Therapeutics’
securities, 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 Nabriva Therapeutics
plc
Nabriva Therapeutics is a biopharmaceutical
company engaged in the commercialization and development of
innovative anti-infective agents to treat serious infections.
Nabriva Therapeutics received U.S. Food and Drug Administration
approval for XENLETA® (lefamulin injection, lefamulin tablets), the
first systemic pleuromutilin antibiotic for community-acquired
bacterial pneumonia (CABP). Nabriva Therapeutics is also developing
CONTEPO™ (fosfomycin) for injection, a potential first-in-class
epoxide antibiotic for complicated urinary tract infections (cUTI),
including acute pyelonephritis. Nabriva entered into an exclusive
agreement with subsidiaries of Merck & Co. Inc., Kenilworth,
N.J., USA to market, sell and distribute SIVEXTRO® (tedizolid
phosphate) in the United States and certain of its territories.
Forward-Looking Statements
Any statements in this press release about
future expectations, plans and prospects for Nabriva Therapeutics,
including but not limited to statements about a prospective
financing and other statements containing the words “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “may,” “plan,”
“predict,” “project,” “target,” “potential,” “likely,” “will,”
“would,” “could,” “should,” “continue,” and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including:
market and other financing conditions, Nabriva Therapeutics’
ability to satisfy customary closing conditions related to the
registered direct offering and to consummate the registered direct
offering, fluctuations in Nabriva Therapeutics’ share price and
such other important factors as are set forth in Nabriva
Therapeutics’ annual and quarterly reports and other filings on
file with the SEC. In addition, the forward-looking statements
included in this press release represent Nabriva Therapeutics’
views as of the date of this press release. Nabriva Therapeutics
anticipates that subsequent events and developments may cause its
views to change. However, while Nabriva Therapeutics may elect to
update these forward-looking statements at some point in the
future, it specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Nabriva Therapeutics’ views as of any date subsequent
to the date of this press release.
CONTACTS:
For Investors Kim Anderson
Nabriva Therapeutics plc IR@Nabriva.com
For Media Mike Beyer Sam Brown
Inc. mikebeyer@sambrown.com 312-961-2502
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