Neptune Wellness Solutions Inc. (NASDAQ:NEPT) (TSX:NEPT) announced Thursday an $8 million registered direct offering. The company has entered into a definitive agreement with a single strategic consumer-focused institutional investor for the purchase and sale of (i) 18.5 million company's shares and (ii) 6.5 million pre-funded warrants, with each pre-funded warrant exercisable for one common share.
The common shares and the pre-funded warrants are being sold together with series A warrants to buy up to an aggregate of 25 million common shares and series B warrants to purchase up to an aggregate of 25 million common shares. Each common share and the accompanying common warrants are being sold together at a combined offering price of $0.32, and each pre-funded warrant and accompanying common warrants are being sold together at a combined offering price of $0.32, for aggregate gross proceeds of approximately $8.0 million before deducting fees and other estimated offering expenses.
