Skip to main content

Outlook Therapeutics Announces Completion of Warrant Restructuring

Written by Customer Service on . Posted in Public Companies.

CRANBURY, N.J., Dec. 26, 2019 (GLOBE NEWSWIRE) — Outlook Therapeutics, Inc. (NASDAQ: OTLK) (the “Company”), a late clinical-stage biopharmaceutical company working to develop the first FDA-approved ophthalmic formulation of bevacizumab for use in retinal indications, today announced that it has completed the previously announced warrant restructuring.
Effective December 23, 2019, with consent of the required holders of the Outlook Therapeutics warrants issued in the Company’s April 2019 underwritten public offering (the “April Warrants”), the Company amended the April Warrants to reduce the exercise price to $0.232 per share and allow for the immediate cashless exercise of the April Warrants.  In addition, the expiration date for all of the April Warrants was changed to 5:00 pm EST on December 24, 2019.  As a result of these amended terms, all outstanding April Warrants (approximately 10.4 million) have now been exercised in full resulting in the issuance of approximately 8.2 million shares of the Company’s common stock.  The transaction was done to eliminate the April Warrants as they included anti-dilution protection, which negatively impacted the ability of Outlook Therapeutics to raise additional funds. “We believe that this Warrant restructuring benefits our stockholders and the Company by creating a substantially cleaner balance sheet for the Company and removing a significant financial overhang,” said Lawrence A. Kenyon, President, Chief Executive Officer and Chief Financial Officer.Other material terms related to the April Warrant amendment can be found in the Company’s current report on Form 8-K, which was filed with the Securities and Exchange Commission on December 23, 2019.About Outlook Therapeutics, Inc.Outlook Therapeutics is a late clinical-stage biopharmaceutical company working to develop the first FDA-approved ophthalmic formulation of bevacizumab for use in retinal indications, including wet AMD, DME and BRVO. If ONS-5010, its investigational ophthalmic formulation of bevacizumab, is approved, Outlook Therapeutics expects to commercialize it as the first and only on-label approved ophthalmic formulation of bevacizumab for use in treating retinal diseases in the United States, Europe, Japan and other markets. Outlook Therapeutics is listed on the Nasdaq Capital Market (NASDAQ: OTLK). For more information, please visit www.outlooktherapeutics.com.CONTACTS:
Outlook Therapeutics:             
Lawrence A. Kenyon
Chief Executive Officer and Chief Financial Officer 
LawrenceKenyon@outlooktherapeutics.comMedia Inquiries:
Emmie Twombly
Media Relations Specialist
LaVoie Health Science
M: 857.389.6042
etwombly@lavoiehealthscience.comInvestor Inquiries:       
Jeremy Feffer
Managing Director
LifeSci Advisors, LLC
T: 212.915.2568 
jeremy@lifesciadvisors.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.