NurExone Biologic Announces Private Placement of up to $2M and Closes First Tranche for $1.61M
NurExone Biologic announced a non-brokered private placement of up to $2M, with a first tranche closing for $1.61M. The offering includes 3,636,363 units at $0.55 per unit, each comprising one common share and one purchase warrant. Warrants allow the purchase of one common share at $0.70 for 36 months, subject to acceleration if the average share price exceeds $1.05 for 10 consecutive trading days. Proceeds will be used for working capital. The offering may be a related party transaction but is expected to be exempt from certain formal requirements. All securities issued are subject to a statutory hold period of four months and one day.
NurExone Biologic ha annunciato un collocamento privato non mediato fino a 2 milioni di dollari, con una prima tranche che si chiude per 1,61 milioni di dollari. L'offerta include 3.636.363 unità a 0,55 dollari ciascuna, ognuna composta da un'azione comune e un warrant di acquisto. I warrant consentono l'acquisto di un'azione comune a 0,70 dollari per 36 mesi, soggetto a accelerazione se il prezzo medio delle azioni supera 1,05 dollari per 10 giorni di negoziazione consecutivi. I proventi saranno utilizzati per il capitale circolante. L'offerta potrebbe essere una transazione con parti correlate, ma si prevede che sia esente da alcuni requisiti formali. Tutti i titoli emessi sono soggetti a un periodo di blocco legale di quattro mesi e un giorno.
NurExone Biologic anunció una colocación privada no mediada de hasta 2 millones de dólares, con un primer tramo cerrado por 1,61 millones de dólares. La oferta incluye 3.636.363 unidades a 0,55 dólares por unidad, cada una compuesta de una acción común y un warrant de compra. Los warrants permiten la compra de una acción común a 0,70 dólares durante 36 meses, sujeto a aceleración si el precio promedio de la acción supera 1,05 dólares durante 10 días hábiles consecutivos. Los ingresos se utilizarán para capital de trabajo. Se espera que la oferta sea una transacción con partes relacionadas, pero que esté exenta de ciertos requisitos formales. Todos los valores emitidos están sujetos a un período legal de bloqueo de cuatro meses y un día.
NurExone Biologic은 200만 달러까지 비중개 민간 배치를 발표하였으며, 첫 번째 에미션은 161만 달러로 마감되었습니다. 이번 공모는 단가 0.55 달러로 3,636,363 개의 유닛을 포함하며, 각 유닛은 하나의 보통주와 하나의 매수 워런트로 구성되어 있습니다. 워런트는 주당 0.70 달러에 보통주를 36개월 동안 구매할 수 있도록 하며, 평균 주가가 10거래일 연속 1.05 달러를 초과할 경우 가속화됩니다. 수익금은 운영 자본에 사용될 예정입니다. 이번 공모는 관련 당사자 거래일 가능성이 있지만 특정 공식 요건에서 면제될 것으로 예상됩니다. 모든 발행된 증권은 4개월 및 1일의 법정 보유 기간의 적용을 받습니다.
NurExone Biologic a annoncé un placement privé non intermédiaire pouvant aller jusqu'à 2 millions de dollars, avec une première tranche fermée à 1,61 million de dollars. L'offre comprend 3 636 363 unités à 0,55 dollar chacune, chacune composée d'une action ordinaire et d'un bon de souscription. Les bons de souscription permettent d'acheter une action ordinaire à 0,70 dollar pendant 36 mois, sous réserve d'une accélération si le prix moyen de l'action dépasse 1,05 dollar pendant 10 jours de négociation consécutifs. Les revenus seront utilisés pour le fonds de roulement. On s'attend à ce que l'offre soit une transaction entre parties liées mais qu'elle soit exempte de certaines exigences formelles. Tous les titres émis sont soumis à une période de blocage légale de quatre mois et un jour.
NurExone Biologic hat eine nicht vermittelte Privatplatzierung von bis zu 2 Millionen US-Dollar angekündigt, mit einem ersten Tranche, das für 1,61 Millionen US-Dollar geschlossen wurde. Das Angebot umfasst 3.636.363 Einheiten zu je 0,55 US-Dollar, von denen jede eine Stammaktie und ein Kaufwarrant umfasst. Die Warrants ermöglichen den Kauf einer Stammaktie zu 0,70 US-Dollar für 36 Monate, vorbehaltlich einer Beschleunigung, wenn der durchschnittliche Aktienkurs für 10 aufeinanderfolgende Handelstage 1,05 US-Dollar übersteigt. Die Einnahmen werden für das Betriebskapital verwendet. Es wird erwartet, dass das Angebot eine Transaktion mit nahestehenden Personen darstellt, aber von bestimmten formalen Anforderungen befreit sein wird. Alle ausgegebenen Wertpapiere unterliegen einer gesetzlichen Haltedauer von vier Monaten und einem Tag.
- Raised $1.61M in the first tranche of the private placement.
- Potential to raise up to $2M through the offering.
- Offering may constitute a 'related party transaction', requiring regulatory scrutiny.
TORONTO and HAIFA, Israel, Sept. 26, 2024 (GLOBE NEWSWIRE) -- NurExone Biologic Inc. (TSXV: NRX), (OTCQB: NRXBF), (Germany: J90) (the “Company” or “NurExone”), a biopharmaceutical company developing exosome-based therapies for the multi-billion dollar regenerative medicinei market, is pleased to announce a non-brokered private placement of up to 3,636,363 units (“Units”) at a price of
Dr. Lior Shaltiel, Chief Executive Officer of the Company noted that, “we appreciate the continued support of our existing shareholders, who recognize the milestones we’ve achieved as we advance toward the use of loaded exosomes as regenerative therapy for the multi-billion-dollar markets of acute spinal cord injuries and optic nerve damage. Their participation in the Offering reflects confidence in our strategic direction and long-term growth potential, as we move ahead on the path to our clinical and commercial goals.”
Each Unit will consist of (i) one common share in the capital of the Company (each, a “Common Share”), and (ii) one Common Share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of
Closing of the Offering is subject to receipt of all necessary regulatory approvals, including TSXV, and all securities issued thereunder will be subject to a statutory hold period of four months and one day from the closing of the Offering.
Related Party Transaction
The Offering may constitute a “related party transaction”, as such term is defined in Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions (“MI 61-101”) as certain insiders of the Company may subscribe in the Offering, and would require the Company to receive minority shareholder approval for, and obtain a formal valuation for the subject matter of, the transaction in accordance with MI 61-101, prior to the completion of each such transaction. However, the Company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, would exceed
Closing of the First Tranche
The Company is also pleased to announce the closing of the first tranche of the Offering for gross proceeds of
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
About NurExone
NurExone Biologic Inc. is a TSXV, FSE and OTCQB listed pharmaceutical company that is developing a platform for biologically-guided exosome-based therapies to be delivered, non-invasively, to patients who have suffered Central Nervous System injuries. The Company’s first product, ExoPTEN for acute spinal cord injury, was proven to recover motor function in
For additional information and a brief interview, please watch Who is NurExone?, visit www.nurexone.com or follow NurExone on LinkedIn, Twitter, Facebook, or YouTube.
For more information, please contact:
Dr. Lior Shaltiel
Chief Executive Officer and Director
Phone: +972-52-4803034
Email: info@nurexone.com
Thesis Capital Inc.
Investor Relations - Canada
Phone: +1 905-347-5569
Email: IR@nurexone.com
Dr. Eva Reuter
Investor Relations - Germany
Phone: +49-69-1532-5857
Email: e.reuter@dr-reuter.eu
Allele Capital Partners
Investor Relations - US
Phone: +1 978-857-5075
Email: aeriksen@allelecapital.com
FORWARD-LOOKING STATEMENTS
This press release contains certain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements relating to the Company’s intention to complete the Offering on the terms, timeline and with the subscribers indicated herein; the Company’s intention to rely on the exemptions set out in MI 61-101; and the NurExone platform technology offering novel solutions to drug companies interested in noninvasive targeted drug delivery for other indications.
These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. In developing the forward-looking statements in this press release, we have applied several material assumptions, including the general business and economic conditions of the industries and countries in which we operate; the general market conditions; the ability to secure additional funding; partnerships having their intended impact on the Company and its business; patents safeguarding NurExone’s technology; the Company’s drug products having its intended benefits and effects; the Company making progress through new partnerships and technologies to move towards commercialization of their products; the Company’s intellectual property and technology being novel and inventive; the intellectual property having the intended impact on the Company and its business; exosomes becoming an ideal and natural choice for drug delivery; the Company making advancements in the manufacturing process of exosomes; exosomes holding immense promise for regenerative medicine; the Company’s production methods continuing to be reliable; the Company will have flexibility in optimizing its exosome production method; exosomes will serve as an excellent, targeted system for drug delivery; the Company will pave the way to regenerative medicine treatments for a variety of clinical indications by the Company and with future collaboration partners; the Company’s ExoPTEN nanodrug being a potential treatment for acute spinal cord injuries and other central nerve system indications; the Company will complete the Offering on the terms, timeline and with the subscribers indicated herein; the Company will be able to rely on the exemptions set out in MI 61-101; and the NurExone platform technology offering novel solutions to drug companies.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These risks and uncertainties include, but are not limited to risks related to the Company’s early stage of development; lack of revenues to date; government regulation; market acceptance for its products; rapid technological change; dependence on key personnel; protection of the Company’s intellectual property; dependence on the Company’s strategic partners; the fact that preclinical drug development is uncertain, and the drug product candidates of the Company may never advance to clinical trials; the fact that results of preclinical studies and early-stage clinical trials may not be predictive of the results of later stage clinical trials; the uncertain outcome, cost, and timing of product development activities, preclinical studies and clinical trials of the Company; the uncertain clinical development process, including the risk that clinical trials may not have an effective design or generate positive results; the potential inability to obtain or maintain regulatory approval of the drug product candidates of the Company; the introduction of competing drugs that are safer, more effective or less expensive than, or otherwise superior to, the drug product candidates of the Company; the initiation, conduct, and completion of preclinical studies and clinical trials may be delayed, adversely affected or impacted by unforeseen issues; the potential inability to obtain adequate financing; the potential inability to obtain or maintain intellectual property protection for the drug product candidates of the Company; the NurExone platform technology being unable to offer novel solutions to drug companies; risks that the Company’s intellectual property and technology won’t have the intended impact on the Company and/or its business; the Company’s inability to realize upon partnerships; risk that the exosomes will not become an ideal and/or natural choice for drug delivery; risk that the company will be unable to make advancements in the manufacturing process of exosomes; risk that exosomes will not be a viable option in regenerative medicine; risk that the Company’s production methods will become unreliable; risk that the Company will not have flexibility in optimizing its exosome production method; risk that exosomes will not serve as a targeted system for drug delivery; risk that the Company will be unable to pave the way to regenerative medicine treatments for a variety of clinical indications by the Company and/or with future collaboration partners; risk that the Company’s ExoPTEN nanodrug will not work as a potential treatment for acute spinal cord injuries and/or other central nerve system indications; the Company’s inability to complete the Offering on the terms, timeline and/or with the subscribers indicated herein or at all; the Company’s inability to rely on the exemptions set out in MI 61-101; risk that the NurExone platform technology will be unable to offer novel solutions to drug companies interested in non-invasive targeted drug delivery for other indications; and the risks discussed under the heading “Risk Factors” on pages 29 to 36 of the Company’s Annual Information Form dated March 30, 2023, a copy of which is available under the Company’s SEDAR+ profile at www.sedarplus.ca. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
i https://www.novaoneadvisor.com/report/us-regenerative-medicine-market
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