Lexaria Bioscience Corp., a drug delivery platform innovator, announced a registered direct offering of 2 million shares of common stock at $1.00 per share. The transaction, facilitated by H.C. Wainwright & Co. as the exclusive placement agent, is expected to generate gross proceeds of $2 million.
The company plans to utilize the net proceeds for working capital and general corporate purposes. The offering will be conducted through a previously declared effective SEC shelf registration statement, with closing anticipated on or about April 28, 2025.
This financial move provides Lexaria with additional resources to support its ongoing research and development efforts, particularly in its DehydraTECH drug delivery platform. The platform has demonstrated potential in improving drug bio-absorption and reducing side effects across various pharmaceutical applications.
The offering represents a strategic financial step for Lexaria, which currently holds 48 granted patents and maintains additional patents pending worldwide. By securing additional funding, the company can continue to advance its innovative drug delivery technology and potential research initiatives.
Investors should note that the transaction is subject to customary closing conditions and represents a calculated approach to supporting the company's continued growth and technological development.
