Aeterna Zentaris Prices Offering 13.1 Mln Units

(RTTNews) - Aeterna Zentaris Inc. (AEZS, AEZ.TO) has priced its offering of 13.1 million units, with each unit consisting of one common share and one whole warrant to purchase one common share, at $1.15 per unit.

Each warrant will be exercisable for a period of five years following the issuance thereof at an exercise price of $1.60 per share.

The company expects proceeds from the offering to be about $13.7 million. Aeterna Zentaris plans to use the proceeds to continue to fund its ongoing drug development activities, primarily for the advancement of its zoptarelin doxorubicin (AEZS-108) program, secondly for its macimorelin acetate (AEZS-130) program.

The offering is expected to close on or about November 25, 2013, subject to customary closing conditions.