Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces Closing of $3.6 Million Registered Direct Offering

February 27, 2024 at 08:50 AM EST

Lexaria, a global innovator in drug delivery platforms, just announced $3.6 million in gross proceeds from its registered direct offering priced at the market
The proceeds will go to critical R&D studies, patent, and legal costs, as well as general working capital purposes
This is timely, given Lexaria’s resolve to double down on GLP-1 investigations for the 2024 calendar year

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, recently announced that the registered direct offering for the purchase and sale of 1,558,443 shares of common stock at a purchase price of $2.31 – at the market under Nasdaq rules – per share yielded approximately $3.6 million in gross proceeds. This was offered by the company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-262402), and it opens Lexaria to important new opportunities for the 2024 calendar year (https://cnw.fm/9CHup).

Most notably, Lexaria intends to use the net proceeds from this offering for research and development (“R&D”) studies, and the associated patent and legal costs. It also intends to use the funds for general working capital purposes, important for its current focus on GLP-1 clinical studies for the…

NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX

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