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NEW YORK, April 23, 2025 (GLOBE NEWSWIRE) -- Rezolute, Inc. (Nasdaq: RZLT) (“Rezolute” or the “Company”), a late-stage biopharmaceutical company committed to developing novel, transformative therapies for serious rare diseases, today announced the pricing of an underwritten offering, priced at-the-market under Nasdaq rules, of an aggregate of 20,786,923 shares of its common stock at an offering price of $3.25 per share, and, to certain investors in lieu of common stock, pre-funded warrants to purchase up to 6,905,385 shares of common stock at an offering price of $3.2490 per pre-funded warrant, which represents the per share offering price for the common stock less the $0.001 per share exercise price for each pre-funded warrant. Gross proceeds from the underwritten offering before deducting underwriting discounts and commissions and other offering expenses are expected to be approximately $90 million. Rezolute has also granted the underwriters a 30-day option to purchase up to an additional 4,153,846 shares of common stock at the offering price, less underwriting discounts and commissions.
All shares of common stock and pre-funded warrants to be sold in the offering will be offered by Rezolute. The closing of the offering is expected to occur on or about April 24, 2025, subject to the satisfaction of customary closing conditions.
The deal includes participation from new and existing investors, including Federated Hermes Kaufmann Funds, Blackstone Multi-Asset Investing, Great Point Partners, LLC, Marshall Wace, Woodline Partners LP, Nantahala Capital, Squadron Capital Management and select mutual funds.
Guggenheim Securities is acting as the sole book-running manager for the offering. BTIG, H.C. Wainwright & Co., and Jones are acting as lead managers for the offering. Craig-Hallum and Maxim Group LLC are acting as co-managers for the offering. WG Partners LLP is acting as financial advisor.
Rezolute intends to use the net proceeds from the offering for research and development, general corporate expense and working capital needs.
A shelf registration statement on Form S-3 (File No. 333-275562) relating to the securities to be offered in the offering was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on November 29, 2023. The offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A preliminary prospectus supplement and final prospectus supplement and the accompanying prospectus relating to and describing the terms of the underwritten offering will be filed with the SEC and, when available, may be obtained on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and final prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained by contacting: Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, New York 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.