Pyxis Oncology issues milestone-linked common warrants in public offering
PYXS•Pyxis Oncology closed a public offering issuing 49,310,352 clinical milestone-linked common warrants at a $3.50 exercise price, with full cash exercise potentially generating about $172.6 million in additional gross proceeds and bringing total potential gross proceeds to about $282.6 million.
1. Warrant offering terms
The warrants become exercisable only after stockholders approve a charter amendment increasing authorized common shares and the amendment takes effect. They expire on the earlier of five years after the amendment’s effective date or 30 days after the later trigger date.
