Lexaria Bioscience Corp. has completed a registered direct offering of 2 million shares of common stock at $1.00 per share, raising $2 million in gross proceeds to support its ongoing operations.
The pharmaceutical technology company strategically structured the deal to minimize shareholder dilution, avoiding the issuance of additional warrants beyond pre-funded options. H.C. Wainwright & Co. served as the exclusive placement agent for the transaction.
CEO Richard Christopher highlighted the significance of securing funding in a difficult market environment, emphasizing the company's commitment to maintaining shareholder value. The proceeds will be allocated to working capital and general corporate purposes.
The offering was conducted under a previously filed shelf registration statement declared effective by the Securities and Exchange Commission in January 2025. This approach provides Lexaria with financial flexibility to continue advancing its drug delivery platform technology, DehydraTECH.
The successful capital raise represents a strategic milestone for Lexaria, enabling the company to continue its research and development efforts in improving drug delivery mechanisms across various potential applications.
