On October 30, 2020 Evogene Ltd. (NASDAQ: EVGN), (TASE: EVGN), a leading computational biology company focused on revolutionizing product discovery and development in multiple life-science based industries, including human health and agriculture, reported that it has entered into definitive agreements with an existing institutional shareholder and certain Israeli institutional investors in connection with a registered direct offering, providing for the issuance of an aggregate of (i) 3.92 million ordinary shares at a purchase price of $2.50 per share, and (ii) 883,534 pre-funded warrants each to purchase one ordinary share ("Pre-Funded Warrants") (Press release, Evogene, OCT 30, 2020, View Source [SID1234569556]). The Pre-Funded Warrants will be sold at a price of $2.49 each, with an exercise price of $0.01 per ordinary share. The Pre-Funded Warrants will be exercisable at any time after the date of issuance upon payment of the exercise price.
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The offering is expected to result in gross proceeds of $12 million. Evogene intends to use the net proceeds from the offering to further develop its and its subsidiaries’ product pipelines, to further enhance and expand its computational predictive biology platform, and for working capital and general corporate purposes.
The offering is expected to close on or before November 3, 2020, subject to customary closing conditions.
Cantor Fitzgerald & Co. is acting as placement agent in the offering.
The ordinary shares and Pre-Funded Warrants offered in the registered direct offering described above are being offered by Evogene pursuant to its shelf registration statement on Form F-3 (File No.333-240249) previously filed and declared effective by the Securities and Exchange Commission (the "SEC") on August 10, 2020. The offering may be made only by means of a prospectus supplement and accompanying prospectus. A prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at View Source
This press release is for informational purposes only and should not be construed as investment advice and does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.