QUEBEC CITY, July 25, 2013 /CNW Telbec/ - Aeterna Zentaris
Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Company") announced today
that it has received commitments from institutional investors to
purchase US$7.8 million of securities in a registered direct
offering. Under the terms of a Securities Purchase Agreement, the
Company will sell to such investors an aggregate of approximately
5.2 million common shares of its capital at a price of US$1.50 per share and issue warrants to acquire
an aggregate of approximately 2.6 million common shares at an
exercise price of US$1.85 per
share.
The warrants to purchase additional common shares of Aeterna
Zentaris will be exercisable at the end of the sixth month
following their issuance and will expire on the fifth-year
anniversary thereof. All of the securities were offered pursuant to
an effective shelf registration statement filed in the United States. Proceeds from the
transaction will be used by the Company to continue to fund its
ongoing drug development activities, primarily for the advancement
of the Company's zoptarelin doxorubicin (AEZS-108) program,
secondly for its macimorelin acetate (AEZS-130) program, as well as
for general corporate purposes and working capital. The offering is
expected to be consummated on or about July
30, 2013, subject to customary closing conditions.
Burrill Securities LLC acted as the exclusive placement agent
for the transaction.
This press release shall not constitute an offer to sell
or a solicitation of an offer to buy any securities nor shall there
be any sale of such securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. A shelf registration statement relating to the common
shares and warrants issued in the offering (and the common shares
issuable upon exercise of the warrants) has been filed with the
Securities and Exchange Commission (the "SEC") and has been
declared effective. A prospectus supplement relating to the
offering will be filed by the Company with the SEC and the Canadian
securities regulatory authorities. Copies of the prospectus
supplement and accompanying prospectus may be obtained directly
from the Company or by contacting Aeterna Zentaris Inc., 1405 du
Parc-Technologique Boulevard, Quebec
City, Canada, G1P 4P5.
About Aeterna Zentaris Inc.
Aeterna Zentaris is an oncology and endocrinology drug
development company currently investigating treatments for various
unmet medical needs. The Company's pipeline encompasses compounds
at all stages of development, from drug discovery through to
marketed products. For more information, visit www.aezsinc.com.
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbour provisions of the U.S. Securities
Litigation Reform Act of 1995. Such forward-looking statements
include statements related to the closing of the registered direct
offering. Forward-looking statements involve known and unknown
risks and uncertainties that could cause the Company's actual
results to differ materially from those in the forward-looking
statements. Such risks and uncertainties include, among others, the
ability to close the registered direct offering, the availability
of funds and resources to pursue R&D projects, the successful
and timely completion of clinical studies, the risk that safety and
efficacy data from any of our Phase 3 trials may not coincide with
the data analyses from previously reported Phase 1 and/or Phase 2
clinical trials, the ability of the Company to take advantage of
business opportunities in the pharmaceutical industry,
uncertainties related to the regulatory process and general changes
in economic conditions.
Investors should consult the Company's quarterly and annual
filings with the Canadian and U.S. securities commissions for
additional information on risks and uncertainties relating to
forward-looking statements. Investors are cautioned not to rely on
these forward-looking statements. The Company does not undertake to
update these forward-looking statements. We disclaim any obligation
to update any such factors or to publicly announce the result of
any revisions to any of the forward-looking statements contained
herein to reflect future results, events or developments, unless
required to do so by a governmental authority or by applicable
law.
SOURCE Aeterna Zentaris Inc.