- Lexaria has entered an agreement wherein an existing accredited investor has exercised all their warrants to purchase shares
- The company has received $4.7 million from this undertaking, prior to deducting estimated offering expenses
- Proceeds fully fund Lexaria’s entire planned 2024 GLP-1 R&D program, leaving additional excess capital for general purposes
Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced its entry into a warrant exercise agreement with an existing accredited investor to exercise in full certain existing warrants initially issued in October 2023 and February 2024. The warrants will be exercised at $0.97 and $2.185 per share, respectively, with the whole undertaking yielding approximately $4.7 million, prior to deducting estimated offering expenses (https://cnw.fm/YbeyA).
Proceeds from this offering will fund the 2024 GLP-1 research program and go into Lexaria’s working capital. Chris Bunka, the company’s CEO, noted that the funds will further extend its operational runway deep into 2025, an integral milestone given its project pipeline, specifically its focus on…
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX
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