Outlook Therapeutics Raises $5M via 16.13M Share Offering, Lowers Warrants to $0.31
Outlook Therapeutics closed a $5.0 million registered direct offering of 16.13 million shares at $0.31 each and issued unregistered warrants exercisable at $0.31 for the same share count. It also reduced exercise price on 2.14 million existing warrants from $2.26 to $0.31, adding potential $5.0 million proceeds.
1. Registered Direct Offering
Outlook Therapeutics sold 16,129,033 common shares at $0.31 each in a registered direct offering, raising approximately $5.0 million before placement agent fees and expenses. The offering was conducted under the company’s shelf registration, with H.C. Wainwright & Co. acting as exclusive placement agent.
2. Unregistered Warrants and Amendments
Concurrently, the company issued unregistered warrants for 16,129,033 shares exercisable at $0.31, which could generate another $5.0 million if fully exercised. It also amended 2,142,854 outstanding warrants, cutting their exercise price from $2.26 to $0.31, exercisable upon stockholder approval and expiring five years after that date.
3. Use of Proceeds and Pipeline Outlook
Net proceeds are intended for working capital and general corporate purposes. Outlook Therapeutics remains focused on commercializing LYTENAVA™ in Europe for retinal diseases and advancing its investigational bevacizumab formulation toward potential U.S. approval.