BRANFORD, Conn., June 21,
2023 /PRNewswire/ -- Azitra, Inc. (NYSE American:
AZTR) (the "Company"), a biopharmaceutical company focused on
developing innovative therapies for precision dermatology using
engineered proteins and topical live biotherapeutic products, today
announced the closing of its initial public offering of 1,500,000
shares of its common stock at a public offering price of
$5.00 per share, for gross proceeds
of $7,500,000, before deducting
underwriting discounts and offering expenses. In addition, the
Company has granted the underwriters a 45-day option to purchase up
to an additional 225,000 shares of common stock to cover
over-allotments at the initial public offering price, less the
underwriting discount.
The Company intends to use the net proceeds from the initial
public offering for clinical trials and product development,
research and development, clinical manufacturing as well as for
working capital and other general corporate purposes.
ThinkEquity acted as sole book-running manager for the
offering.
A registration statement on Form S-1 (File No. 333-269876)
relating to the shares of common stock being sold in this offering
was filed with the U.S. Securities and Exchange Commission ("SEC")
and became effective on June 15,
2023. A final prospectus relating to the offering was filed
with the SEC and is available on the SEC's website at
http://www.sec.gov. This offering is being made only by means of a
prospectus. Electronic copies of the final prospectus may be
obtained from ThinkEquity, 17 State Street, 41st Floor,
New York, New York 10004.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Azitra, Inc.
Azitra, Inc. is an early-stage clinical biopharmaceutical
company focused on developing innovative therapies for precision
dermatology using engineered proteins and topical live
biotherapeutic products. The Company has built a proprietary
platform that includes a microbial library comprised of
approximately 1,500 unique bacterial strains that can be screened
for unique therapeutic characteristics. The platform is augmented
by an artificial intelligence and machine learning technology that
analyzes, predicts and helps screen the Company's library of
strains for drug like molecules. The Company's initial focus is on
the development of genetically engineered strains of Staphylococcus
epidermidis, or S. epidermidis, which the Company considers to be
an optimal therapeutic candidate species for engineering of
dermatologic therapies. For more information, please visit
https://azitrainc.com/.
Forward Looking
Statements
This press release contains "forward-looking statements" that
are subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as "anticipate," "believe," "contemplate," "could,"
"estimate," "expect," "intend," "seek," "may," "might," "plan,"
"potential," "predict," "project," "target," "aim," "should,"
"will" "would," or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements are based on the Company's
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Further,
certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. These and other
risks and uncertainties are described more fully in the section
titled "Risk Factors" in the final prospectus related to the
public offering filed with the SEC. Forward-looking statements
contained in this announcement are made as of this date, and the
Company undertakes no duty to update such information except as
required under applicable law.
CONTACT
Norman Staskey
staskey@azitrainc.com
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SOURCE Azitra, Inc.