TinyGemsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Reports on Upcoming $1.6M Registered Direct Offering

Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug-delivery platforms, has entered into a securities purchase agreement with a single healthcare-focused institutional investor; the agreement is for the purchase of 1,618,330 shares of common stock (or pre-funded warrants in lieu thereof) in a registered direct offering. According to the announcement, Lexaria also agreed to issue and sell warrants to purchase up to 1,618,330 shares of common stock to the same investor. The combined effective offering price for each share of common stock (or pre-funded warrant in lieu thereof) and accompanying warrant is $0.97. The warrants will become exercisable six months from issuance, with an expiration date five and a half years from the issue date; the exercise price per share is $0.97. Lexaria anticipates receiving gross proceeds from the registered direct offering and concurrent private placement of approximately $1.6 million before the deduction of placement agent’s fees and other offering expenses. The offering is expected to close on or about Oct. 3, 2023, and is subject to customary closing conditions. Maxim Group LLC is acting as the sole placement agent in connection with the offering.

To view the full press release, visit https://ibn.fm/yy7DP

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 36 patents granted and many patents pending worldwide. For more information about the company, please visit www.LexariaBioscience.com.

NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://ibn.fm/LEXX

About TinyGems

TinyGems is a specialized communications platform with a focus on innovative small-cap and mid-cap companies with bright futures and huge potential. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TinyGems is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, TinyGems brings its clients unparalleled recognition and brand awareness. TinyGems is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from TinyGems, text “Gems” to 844-397-5787 (U.S. Mobile Phones Only)

For more information, please visit https://www.TinyGems.com

Please see full terms of use and disclaimers on the TinyGems website applicable to all content provided by TinyGems, wherever published or re-published: https://www.TinyGems.com/Disclaimer

TinyGems
Los Angeles, CA
www.TinyGems.com
310.299.1717 Office
Editor@TinyGems.com

TinyGems is powered by IBN

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.