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Lexaria Announces Closing of Exercise of Warrants for Approximately $5.9 Million in Gross Proceeds

LEXX
  • Lexaria Bioscience Corp. closed the exercise of outstanding warrants to purchase 453,969 shares of common stock at a reduced price of $12.92 per share.
  • The exercise covered warrants originally issued with prices ranging from $17.85 to $45.90 on various dates between 2024 & 2025.
  • H.C. Wainwright & Co. served as the exclusive placement agent for the transaction.
  • The company received approximately $5.9 million in gross proceeds from the exercise, prior to fees & expenses.
  • New unregistered Series A & Series B warrants were issued, each allowing purchase of up to 453,969 shares at $12.67 per share.
  • Series A warrants expire five years from the resale registration statement effective date, while Series B warrants expire eighteen months from that date.
  • Lexaria plans to use net proceeds for working capital & general corporate purposes.
  • The company intends to file a resale registration statement with the SEC for shares issuable upon exercise of the new warrants.