Attached files
file | filename |
---|---|
EX-10.4 - SERIES A-1 WARRANT - AzurRx BioPharma, Inc. | ex10-4.htm |
EX-10.3 - SERIES A WARRANT - AzurRx BioPharma, Inc. | ex10-3.htm |
EX-10.2 - FORM OF REGISTRATION RIGHTS AGREEMENT - AzurRx BioPharma, Inc. | ex10-2.htm |
EX-10.1 - FORM OF SECURITIES PURCHASE AGREEMENT - AzurRx BioPharma, Inc. | ex10-1.htm |
8-K - CURRENT REPORT - AzurRx BioPharma, Inc. | azrx8k_jun52017.htm |
Exhibit 99.1
AzurRx BioPharma Announces Closing of $5.0 Million Private
Financing
BROOKLYN, N.Y., June 8, 2017. (GLOBE NEWSWIRE) -- AzurRx
BioPharma, Inc.(NASDAQ:AZRX)
(“AzurRx” or the “Company”), a company
specializing in the development of non-systemic, recombinant
therapies for gastrointestinal diseases, announced today the
closing of a private placement financing resulting in gross
proceeds of $5.0 million. Alexander Capital, LP acted as sole
placement agent in the financing.
“We are very grateful for the continued support of our investors and thrilled that the
financing was over-subscribed”, said Thijs Spoor, the
President and CEO of AzurRx. “This financing allows us to
continue the development of our MS1819 program for the treatment of
exocrine pancreatic insufficiency in cystic fibrosis and chronic
pancreatitis patients.”
The financing consisted of units sold at a price of $3.50 per unit,
with each unit consisting of one share of common stock, one Series
A Warrant to purchase 0.25 shares of common stock at $4.00 per
share exercisable immediately through December 31, 2017, and one
Series A-1 Warrant to purchase 0.75 shares of common stock at $5.50
per share exercisable beginning six months from the date of
issuance through June 6, 2022. At closing, the Company issued an
aggregate of 1,428,572 shares of common stock, Series A Warrants to
purchase up to 357,143 shares of common stock, and Series A-1
Warrants to purchase up to 1,071,429 shares of common
stock.
The securities sold in the private placement have not been
registered under the Securities Act of 1933, as amended, or state
securities laws and may not be offered or sold in the United States
absent registration with the Securities and Exchange Commission
(SEC) or an applicable exemption from such registration
requirements. AzurRx has agreed to file one or more registration
statements with the SEC registering the resale of the shares of
common stock purchased in the private placement and the shares of
common stock issuable upon exercise of the warrants.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be
unlawful.
About AzurRx BioPharma, Inc.:
AzurRx BioPharma, Inc. (NASDAQ:AZRX)
is engaged in the research and development of non-systemic
biologics for the treatment of patients with gastrointestinal
disorders. MS1819 recombinant lipase for exocrine pancreatic
insufficiency is the Company's lead development program, and
additional early stage research is being conducted for the
prevention of hospital-acquired infections. The Company is
headquartered in Brooklyn, NY, with scientific operations based in
Langlade, France. Additional information on the company can be
found at www.azurrx.com.
Forward-Looking Statements:
This press release contains forward-looking statements within the
meaning of the Private Securities Litigations Reform Act of 1995.
Such statements include, but are not limited to, any statements
relating to our product development programs and any other
statements that are not historical facts. Such statements involve
risks and uncertainties that could negatively affect our business,
operating results, financial condition and stock price. Factors
that could cause actual results to differ materially from
management's current expectations include those risks and
uncertainties relating to the development and testing of our drug
candidates, the regulatory approval process, our ability to secure
additional financing, the protection of our patent and intellectual
property, the success of strategic agreements and relationships,
and the potential commercialization of any product we may
successfully develop. We expressly disclaim any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in our expectations or any changes in events, conditions or
circumstances on which any such statement is based, except as
required by law.
CONTACT:
AzurRx BioPharma, Inc.
760 Parkside Avenue, Suite 304
Brooklyn, NY 11226
Phone: 646.699.7855
www.azurrx.com
info@azurrx.com