Tenax Therapeutics Announces $25 Million Private Placement
Tenax Therapeutics (NASDAQ: TENX) has secured a $25 million private placement financing through an agreement with RTW Investments. The deal includes 378,346 shares of common stock and pre-funded warrants to purchase 3,760,726 shares at $6.04 per share and $6.03 per warrant respectively.
The pre-funded warrants have a $0.01 exercise price with no expiration date. The placement, expected to close on March 5, 2025, is led by Leerink Partners, with Guggenheim Securities and William Blair as joint placement agents.
The net proceeds will fund the company's ongoing and planned Phase 3 clinical trials, working capital, capital expenditures, and general corporate purposes. The securities are being offered under Section 4(a)(2) of the Securities Act and Regulation D, with Tenax agreeing to file a registration statement within 45 days for resale of the shares.
Tenax Therapeutics (NASDAQ: TENX) ha ottenuto un finanziamento di 25 milioni di dollari tramite un accordo con RTW Investments. L'accordo include 378.346 azioni ordinarie e warrant prefinanziati per l'acquisto di 3.760.726 azioni a 6,04 dollari per azione e 6,03 dollari per warrant rispettivamente.
I warrant prefinanziati hanno un prezzo di esercizio di 0,01 dollari senza data di scadenza. L'operazione, prevista per chiudere il 5 marzo 2025, è guidata da Leerink Partners, con Guggenheim Securities e William Blair come agenti di collocamento congiunti.
I proventi netti finanzieranno gli studi clinici di fase 3 in corso e pianificati dell'azienda, il capitale circolante, le spese in conto capitale e scopi aziendali generali. I titoli sono offerti ai sensi della Sezione 4(a)(2) del Securities Act e della Regolamentazione D, con Tenax che si impegna a presentare una dichiarazione di registrazione entro 45 giorni per la rivendita delle azioni.
Tenax Therapeutics (NASDAQ: TENX) ha conseguido un financiamiento de colocación privada de 25 millones de dólares a través de un acuerdo con RTW Investments. El acuerdo incluye 378,346 acciones ordinarias y warrants prefinanciados para comprar 3,760,726 acciones a 6.04 dólares por acción y 6.03 dólares por warrant respectivamente.
Los warrants prefinanciados tienen un precio de ejercicio de 0.01 dólares sin fecha de vencimiento. La colocación, que se espera cierre el 5 de marzo de 2025, está liderada por Leerink Partners, con Guggenheim Securities y William Blair como agentes de colocación conjuntos.
Los ingresos netos financiarán los ensayos clínicos de fase 3 en curso y planificados de la empresa, el capital de trabajo, los gastos de capital y los propósitos corporativos generales. Los valores se ofrecen bajo la Sección 4(a)(2) de la Ley de Valores y la Regulación D, con Tenax comprometiéndose a presentar una declaración de registro dentro de los 45 días para la reventa de las acciones.
테낙스 테라퓨틱스 (NASDAQ: TENX)는 RTW 인베스트먼트와의 계약을 통해 2,500만 달러의 사모펀드 자금을 확보했습니다. 이 거래에는 378,346주의 보통주와 각각 주당 6.04달러 및 워런트당 6.03달러에 3,760,726주를 구매할 수 있는 선불 워런트가 포함됩니다.
선불 워런트의 행사 가격은 0.01달러이며 만료일이 없습니다. 이 자금 조달은 2025년 3월 5일에 마감될 예정이며, 리어링크 파트너스가 주도하고 구겐하임 증권 및 윌리엄 블레어가 공동 배급 에이전트로 참여합니다.
순수익은 회사의 진행 중인 및 계획된 3상 임상 시험, 운영 자본, 자본 지출 및 일반 기업 목적을 지원하는 데 사용됩니다. 증권은 증권법 제4(a)(2)조 및 규정 D에 따라 제공되며, 테낙스는 주식 재판매를 위한 등록신청서를 45일 이내에 제출하기로 약속했습니다.
Tenax Therapeutics (NASDAQ: TENX) a sécurisé un financement de placement privé de 25 millions de dollars par le biais d'un accord avec RTW Investments. L'accord comprend 378 346 actions ordinaires et des bons de souscription préfinancés pour l'achat de 3 760 726 actions à 6,04 dollars par action et 6,03 dollars par bon respectivement.
Les bons de souscription préfinancés ont un prix d'exercice de 0,01 dollar sans date d'expiration. Le placement, qui devrait se clôturer le 5 mars 2025, est dirigé par Leerink Partners, avec Guggenheim Securities et William Blair en tant qu'agents de placement conjoints.
Les produits nets financeront les essais cliniques de phase 3 en cours et prévus de l'entreprise, le fonds de roulement, les dépenses d'investissement et les objectifs généraux de l'entreprise. Les titres sont offerts en vertu de la section 4(a)(2) de la loi sur les valeurs mobilières et de la réglementation D, Tenax s'engageant à déposer une déclaration d'enregistrement dans les 45 jours pour la revente des actions.
Tenax Therapeutics (NASDAQ: TENX) hat eine Privatplatzierungsfinanzierung in Höhe von 25 Millionen Dollar durch eine Vereinbarung mit RTW Investments gesichert. Das Geschäft umfasst 378.346 Stammaktien und vorfinanzierte Warrants zum Kauf von 3.760.726 Aktien zu je 6,04 Dollar pro Aktie und 6,03 Dollar pro Warrant.
Die vorfinanzierten Warrants haben einen Ausübungspreis von 0,01 Dollar ohne Ablaufdatum. Die Platzierung, die voraussichtlich am 5. März 2025 abgeschlossen wird, wird von Leerink Partners geleitet, wobei Guggenheim Securities und William Blair als gemeinsame Platzierungsagenten fungieren.
Die Nettomittel werden die laufenden und geplanten Phase-3-Studien des Unternehmens, das Betriebskapital, Investitionsausgaben und allgemeine Unternehmenszwecke finanzieren. Die Wertpapiere werden gemäß Abschnitt 4(a)(2) des Securities Act und der Verordnung D angeboten, wobei Tenax sich verpflichtet, innerhalb von 45 Tagen eine Registrierungsanmeldung zur Wiederveräußertung der Aktien einzureichen.
- Secured $25M in new funding
- Strategic investment from RTW Investments
- Pre-funded warrants have no expiration date
- Funding supports Phase 3 clinical trials advancement
- Potential dilution from 4.1M new shares/warrants
- Securities not registered under Securities Act
Insights
Tenax Therapeutics' $25 million private placement represents a significant financial development that fundamentally transforms the company's capital position. With a current market cap of just
The pricing structure is particularly notable - common shares priced at
RTW Investments' participation as the lead investor adds significant validation, as they're a specialized life sciences investment firm known for selective, high-conviction positions. The backing of prestigious placement agents (Leerink Partners, Guggenheim Securities, and William Blair) further enhances credibility.
The financing structure - combining immediate equity with flexible, non-expiring pre-funded warrants - gives RTW considerable long-term exposure while providing Tenax immediate access to capital. This eliminates near-term financing risk that typically constrains development-stage pharmaceutical companies, allowing management to focus on clinical execution rather than fundraising activities.
For Phase 3 development companies like Tenax, securing adequate funding for late-stage clinical trials often represents the most significant operational challenge. This financing effectively removes the capital constraints and financing overhang that typically limit similar companies, providing a clear runway through their critical clinical milestones.
CHAPEL HILL, N.C., March 05, 2025 (GLOBE NEWSWIRE) -- Tenax Therapeutics, Inc. (Nasdaq: TENX) (the “Company” or “Tenax Therapeutics”), a Phase 3, development-stage pharmaceutical company using clinical insights to develop novel cardiopulmonary therapies, today announced that it has entered into a securities purchase agreement for a private placement financing with RTW Investments, which is expected to result in total gross proceeds of approximately
The private placement will be for an aggregate of 378,346 shares of the Company’s common stock and pre-funded warrants to purchase an aggregate of 3,760,726 shares of common stock. The purchase price for each share of common stock is
Leerink Partners is acting as the lead placement agent for the private placement and is joined by Guggenheim Securities and William Blair as joint placement agents.
The Company intends to use the net proceeds from the private placement to advance the Company’s ongoing and planned Phase 3 clinical trials, as well as for working capital, capital expenditures, and other general corporate purposes.
The securities to be issued in connection with the private placement described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Regulation D promulgated thereunder and have not been registered under the Securities Act, or any state or other applicable jurisdictions’ securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws. Tenax Therapeutics has agreed to file a registration statement with the United States Securities and Exchange Commission (the “SEC”) registering the resale of the shares of common stock issued in the private placement and the shares of common stock issuable upon the exercise of the pre-funded warrants issued in the private placement, no later than 45 days after the closing of the private placement.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offering of the securities under the resale registration statement will only be made by means of a prospectus.
Caution Regarding Forward-Looking Statements
Except for historical information, all of the statements, expectations and assumptions contained in this press release are forward-looking statements. These forward-looking statements may include information concerning possible or projected future business operations. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: risks associated with market conditions and the satisfaction of closing conditions related to the private placement; the use of proceeds from this private placement and the Company’s existing cash and cash equivalents, the Company’s cash runway with the net proceeds from this offering, and risks associated with the Company’s cash needs; and risks and uncertainties associated with the Company’s business and finances in general; and other risks and uncertainties set forth from time to time in the Company’s SEC filings. Tenax Therapeutics assumes no obligation and does not intend to update these forward-looking statements except as required by law.
Contact:
Investor and Media:
Merrill Barrett
Argot Partners
tenax@argotpartners.com
FAQ
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