Nasus Pharma Ltd. closed a $15.0 million private placement of ordinary shares and warrants, with proceeds intended to advance the clinical development of its NS002 product candidate and fund pipeline expansion and general corporate purposes.
Key takeaways
Closed private placement raising approximately $15.0 million in gross proceeds.
Sold 2,695,425 ordinary shares and accompanying warrants at a combined price of $5.565 per unit.
Warrants have an exercise price of $6.53 per share, are immediately exercisable, and expire upon the earlier of two years from issuance or 30 trading days after NS002 pivotal study top-line results announcement.
Intends to use net proceeds to advance NS002 pivotal clinical development, initiate first-in-human studies for other pipeline products, and for working capital and general corporate purposes.
Securities were sold in an unregistered offering; the company agreed to file a registration statement for resale of the shares and shares issuable upon warrant exercise.
Citizens Capital Markets acted as lead placement agent and Laidlaw & Company (UK) Ltd. acted as co-placement agent.