On February 18, 2021 Diffusion Pharmaceuticals Inc. (NASDAQ: DFFN) ("Diffusion" or the "Company"), an innovative biopharmaceutical company developing novel therapies to deliver oxygen to areas of the body where it is needed most, reported that the underwriter of its previously announced underwritten public offering has exercised in full its option to purchase an additional 4,390,244 shares of its common stock at a price to the public of $1.025 per share, less underwriting discounts and commissions (Press release, Diffusion Pharmaceuticals, FEB 18, 2021, View Source [SID1234575273]). After giving effect to the option closing, the aggregate gross proceeds to Diffusion from the offering were approximately $34.5 million, before deducting underwriting discounts and commissions and offering expenses payable by Diffusion.
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H.C. Wainwright & Co. acted as the sole book-running manager for the offering.
Diffusion intends to use the net proceeds of the offering to fund research and development of its lead product candidate, trans sodium crocetinate, including the TCOM Study, the DLCO Study, and other clinical trial activities, and for general corporate purposes.
The shares of common stock described above were offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-249057) filed with the Securities and Exchange Commission (SEC) and declared effective on October 2, 2020 and the accompanying prospectus contained therein. The offering of the shares of common stock was being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC’s website at www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail at [email protected] or by calling 646-975-6996.
This announcement is neither an offer to sell, nor a solicitation of an offer to buy, any of these securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale is unlawful. Any offer, if at all, will be made only by means of the prospectus forming a part of the effective registration statement.