Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug-delivery platforms, has announced the pricing of its public offering, which consists of 2,106,000 units, with each unit including one share of common stock (or one prefunded warrant to purchase one share of common stock in lieu thereof) and one warrant to purchase one share of common stock. According to the announcement, each until will be available for $0.95, resulting in gross proceeds from the offering to total an estimated $2 million. The announcement noted that the warrants will be immediately exercisable, also $0.95 per share, and will expire five years from the date of issue. The common shares and accompanying warrants can only be purchased together in this offering, which is expected to close on May 11, 2023; however, the share and warrants will be issued separately and will be immediately separable. Maxim Group LLC is acting as sole placement agent in connection with this offering.
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About Lexaria Bioscience Corp.
Lexaria Bioscience’s patented drug-delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream through oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bioabsorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 28 patents granted and many patents pending worldwide. For more information about the company, please visit www.LexariaBioscience.com.
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