AEON Biopharma, Inc. Announces Closing of $20.0 Million Underwritten Public Offering
AEON Biopharma (NYSE: AEON) has successfully closed its previously announced $20.0 million underwritten public offering on January 7, 2025. The offering consisted of 40,000,000 Common Units priced at $0.50 per unit. Each unit includes one share of Common Stock and two warrants: a Series A and Series B Warrant, both with an exercise price of $0.625.
The Series A Warrants expire after 60 months following stockholder approval, while Series B Warrants expire after 30 months. Aegis Capital Corp., acting as the sole book-running manager, exercised its over-allotment option for 6,000,000 additional Series A and B Warrants. The company plans to use the net proceeds for general corporate purposes and working capital.
AEON Biopharma (NYSE: AEON) ha chiuso con successo la sua offerta pubblica sottoscritta precedentemente annunciata di 20,0 milioni di dollari il 7 gennaio 2025. L'offerta consisteva in 40.000.000 di Unit脿 Comuni a un prezzo di 0,50 dollari per unit脿. Ogni unit脿 include una azione di Common Stock e due warrant: un Warrant di Serie A e un Warrant di Serie B, entrambi con un prezzo di esercizio di 0,625 dollari.
I Warrant di Serie A scadono 60 mesi dopo l'approvazione degli azionisti, mentre i Warrant di Serie B scadono dopo 30 mesi. Aegis Capital Corp., agendo come unico gestore delle registrazioni, ha esercitato la sua opzione di sovrallocazione per ulteriori 6.000.000 di Warrant di Serie A e B. L'azienda prevede di utilizzare i proventi netti per scopi aziendali generali e capitale circolante.
AEON Biopharma (NYSE: AEON) ha cerrado con 茅xito su oferta p煤blica suscrita de 20,0 millones de d贸lares el 7 de enero de 2025. La oferta consist铆a en 40.000.000 de Unidades Comunes a un precio de 0,50 d贸lares por unidad. Cada unidad incluye una acci贸n de Common Stock y dos warrants: un Warrant de Serie A y un Warrant de Serie B, ambos con un precio de ejercicio de 0,625 d贸lares.
Los Warrant de Serie A vencen 60 meses despu茅s de la aprobaci贸n de los accionistas, mientras que los Warrant de Serie B vencen despu茅s de 30 meses. Aegis Capital Corp., actuando como el 煤nico gestor de libros, ejerci贸 su opci贸n de sobreasignaci贸n para 6.000.000 de Warrants adicionales de Serie A y B. La empresa planea utilizar los ingresos netos para fines corporativos generales y capital de trabajo.
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AEON Biopharma (NYSE: AEON) a r茅ussi 脿 cl么turer son offre publique souscrite de 20,0 millions de dollars annonc茅e pr茅c茅demment, le 7 janvier 2025. L'offre 茅tait compos茅e de 40.000.000 d'unit茅s communes au prix de 0,50 dollar par unit茅. Chaque unit茅 comprend une action de capital ordinaire et deux bons de souscription : un bon de s茅rie A et un bon de s茅rie B, tous deux avec un prix d'exercice de 0,625 dollar.
Les bons de s茅rie A expirent 60 mois apr猫s l'approbation des actionnaires, tandis que les bons de s茅rie B expirent apr猫s 30 mois. Aegis Capital Corp., agissant en tant que seul gestionnaire livre, a exerc茅 son option de surallocation pour 6.000.000 suppl茅mentaires de bons de souscription de s茅rie A et B. La soci茅t茅 pr茅voit d'utiliser les produits nets pour des objectifs d'entreprise g茅n茅raux et du fonds de roulement.
AEON Biopharma (NYSE: AEON) hat erfolgreich ihr zuvor angek眉ndigtes 枚ffentliche Angebot in H枚he von 20,0 Millionen Dollar am 7. Januar 2025 abgeschlossen. Das Angebot bestand aus 40.000.000 Stammanteilen, die zu einem Preis von 0,50 Dollar pro Anteil angeboten wurden. Jede Einheit umfasst eine Aktie des Stammkapitals und zwei Warrants: einen Warrant der Serie A und einen Warrant der Serie B, beide mit einem Aus眉bungspreis von 0,625 Dollar.
Die Warrants der Serie A laufen 60 Monate nach der Zustimmung der Aktion盲re ab, w盲hrend die Warrants der Serie B nach 30 Monaten ablaufen. Aegis Capital Corp., die als alleiniger Buchf眉hrer fungiert, hat ihre 脺berbezugsoption f眉r 6.000.000 zus盲tzliche Warrants der Serien A und B ausge眉bt. Das Unternehmen plant, die Nettoerl枚se f眉r allgemeine Unternehmenszwecke und Betriebskapital zu verwenden.
- Secured $20.0 million in gross proceeds through public offering
- Successfully closed the offering with full subscription
- Aegis Capital Corp. exercised over-allotment option, indicating strong demand
- Significant dilution with 40 million new common units issued
- Additional potential dilution from 80 million warrants if exercised
- Low unit pricing at $0.50 indicates challenging market conditions
Insights
This
The deal structure, including both 60-month and 30-month warrant terms, provides the company with extended financing flexibility but also creates a complex capitalization table. With a current market cap of about
For retail investors: Think of this like a company printing new money (shares) to fund its operations. While the cash infusion supports ongoing operations and development of their botulinum toxin biosimilar, the significant increase in potential shares could pressure the stock price. The warrant structure is like giving buyers two separate lottery tickets that could pay off if the stock price rises above
The capital raise is important for AEON's 351(k) biosimilar pathway development program. This regulatory pathway, specifically for biological products shown to be biosimilar to an FDA-licensed reference product, typically requires less extensive clinical data than traditional approvals but still demands rigorous comparative studies. The
For non-experts: A biosimilar is like a generic version of a biological drug - in this case, likely targeting Botox. While traditional generic drugs are exact copies, biosimilars are highly similar but not identical versions of complex biological products. The 351(k) pathway AEON is pursuing is specifically designed for these types of products, offering a potentially faster and less expensive route to market compared to developing an entirely new drug.
IRVINE, Calif., Jan. 07, 2025 (GLOBE NEWSWIRE) -- AEON Biopharma, Inc. (NYSE: AEON) (the 鈥淐ompany鈥), a clinical-stage biopharmaceutical company focused on developing a botulinum toxin complex under a 351(k) biosimilar pathway, today announced the closing of its previously announced firm commitment underwritten public offering. Gross proceeds to the Company were approximately
The offering consisted of 40,000,000 Common Units, each consisting of (i) one (1) share of Common Stock, (ii) one (1) Series A Registered Common Warrant to purchase one (1) share of Common Stock per warrant at an exercise price of
Solely to cover over-allotments, if any, the Company has granted Aegis Capital Corp. (鈥淎egis鈥) a 45-day option to purchase additional shares of Common Stock and/or Warrants of (i) up to
Aggregate gross proceeds to the Company were approximately
Aegis Capital Corp. is acting as the sole book-running manager for the Offering on a firm commitment basis. Sichenzia Ross Ference Carmel LLP is acting as counsel to the Company. Kaufman & Canoles, P.C. is acting as counsel to Aegis Capital Corp.
The offering was made pursuant to an effective shelf registration statement on Form S-3 (No. 333-281562) previously filed with the U.S. Securities and Exchange Commission (the 鈥淪EC鈥) and declared effective by the SEC on August 21, 2024. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC鈥檚 website located at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at syndicate@aegiscap.com, or by telephone at +1 (212) 813-1010.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About AEON Biopharma
AEON is a clinical stage biopharmaceutical company focused on developing its proprietary botulinum toxin complex, ABP-450 (prabotulinumtoxinA) injection, or ABP-450, for debilitating medical conditions, with an initial focus on the neurosciences market. ABP-450 is the same botulinum toxin complex that is currently approved and marketed for cosmetic indications by Evolus under the name Jeuveau. ABP-450 is manufactured by Daewoong in compliance with current Good Manufacturing Practice, or cGMP, in a facility that has been approved by the U.S. Food and Drug Administration, Health Canada and European Medicines Agency. The product is approved as a biosimilar in Mexico and India. AEON has exclusive development and distribution rights for therapeutic indications of ABP-450 in the United States, Canada, the European Union, the United Kingdom, and certain other international territories. The Company has built a highly experienced management team with specific experience in biopharmaceutical and botulinum toxin development and commercialization. To learn more about AEON, visit .
Forward-Looking Statements
The foregoing material may contain 鈥渇orward-looking statements鈥 within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company鈥檚 product development and business prospects, and can be identified by the use of words such as 鈥渕ay,鈥 鈥渨ill,鈥 鈥渆xpect,鈥 鈥減roject,鈥 鈥渆stimate,鈥 鈥渁nticipate,鈥 鈥減lan,鈥 鈥渂elieve,鈥 鈥減otential,鈥 鈥渟hould,鈥 鈥渃ontinue鈥 or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the outcome of any legal proceedings that may be instituted against AEON or others; (ii) AEON鈥檚 future capital requirements; (iii) AEON鈥檚 ability to raise financing in the future; (iv) AEON鈥檚 ability to continue to meet continued stock exchange listing standards; (v) the possibility that AEON may be adversely affected by other economic, business, regulatory, and/or competitive factors; and (vi) other risks and uncertainties set forth in the section entitled 鈥淩isk Factors鈥 and 鈥淐autionary Note Regarding Forward-Looking Statements鈥 in the Company鈥檚 filings with the SEC, which are available on the SEC鈥檚 website at .
Contacts
Investor Contact:
Corey Davis, Ph.D.
LifeSci Advisors
+1 212 915 2577
Source: AEON Biopharma
FAQ
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