BioAmber Announces Pricing of $10 Million Underwritten Public Offering

- February 6th, 2018

BioAmber (NYSE:BIOA; TSX:BIOA) has announced it has priced an underwritten public offering of an aggregate of 40 million Series A units (or equivalent Series B Units). As quoted in the press release: Each Series A unit consisting of one share of common stock, one Series A warrant to purchase one share of common stock and … Continued

BioAmber (NYSE:BIOA; TSX:BIOA) has announced it has priced an underwritten public offering of an aggregate of 40 million Series A units (or equivalent Series B Units).

As quoted in the press release:

Each Series A unit consisting of one share of common stock, one Series A warrant to purchase one share of common stock and one Series B warrant to purchase one share of common stock, and each Series B unit consisting of one pre-funded warrant to purchase one share of common stock, one Series A warrant to purchase one share of common stock and one Series B warrant to purchase one share of common stock, at a price to the public of US$0.25 per Series A unit and US$0.24 per Series B unit.

 The Series A warrants have an exercise price of US$0.25 and a term of six (6) months, exercisable upon the date of issuance. The Series B warrants have an exercise price of US$0.25 and a term of five (5) years, exercisable upon the date of issuance. The pre-funded warrants have an exercise price of US$0.25 per share, which will be pre-paid upon issuance, except for a nominal exercise price of US$0.01 per share and, consequently, no additional payment or other consideration (other than the nominal exercise price of US$0.01 per share) will be required to be delivered to the Company by the holder upon exercise of the pre-funded warrants. The pre-funded warrants will be exercisable upon the date of issuance until exercised in full. The shares of common stock and the warrants will be immediately separable and will be issued separately.

The aggregate gross proceeds to the Company (assuming no exercise of the warrants) are approximately US$10 million, before deducting underwriting discounts and commissions and estimated offering expenses.

Click here to read the full press release.

 

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