BRIDGEWATER, N.J., Oct. 07, 2021 (GLOBE NEWSWIRE) -- Osmotica Pharmaceuticals plc (Nasdaq: OSMT) (“Osmotica” or the “Company”), a specialty pharmaceutical company, today announced the pricing of its previously announced underwritten public offering of 14,000,000 ordinary shares of the Company and warrants to purchase up to 14,000,000 ordinary shares at a public offering price of $2.50 per share and accompanying warrant. The warrants have an exercise price of $3.10 per share, are immediately exercisable and will expire three and one-half years from the date of issuance. The Company has granted the underwriter a 30-day option to purchase up to additional 2,100,000 ordinary shares and/or additional warrants to purchase up to 2,100,000 ordinary shares, at the public offering price per share and per warrant, respectively, less the underwriting discounts and commissions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
The gross proceeds of the offering are expected to be $35 million, prior to deducting underwriting discounts and commissions and estimated offering expenses and excluding the exercise of any warrants and the underwriter’s option to purchase additional securities. This offering is expected to close on or about October 12, 2021, subject to satisfaction of customary closing conditions.
A shelf registration statement on Form S-3 (File No. 333-236193) relating to the securities being offered was filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 31, 2020, and became effective on February 12, 2020. The offering is being made only by means of a prospectus supplement and accompanying prospectus that form a part of the shelf registration statement. A final prospectus supplement and accompanying prospectus relating to the public offering will be filed with the SEC and will be available on the SEC's website, located at www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus may also be obtained, when available, by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (212) 856-5711.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Osmotica Pharmaceuticals
Osmotica Pharmaceuticals plc (Nasdaq: OSMT) is a specialty biopharmaceutical company focused on the development and commercialization of products that target markets with underserved patient populations. RVL Pharmaceuticals, Inc. is the Company’s ophthalmic subsidiary supporting UPNEEQ®.