Veru

Canaccord Genuity Acted as Joint Book-Running Manager to Veru on its Public Offering of $25.2 Million

Canaccord Genuity is pleased to announce its client Veru Inc. (Nasdaq: VERU), a late clinical stage biopharmaceutical company focused on developing innovative medicines for the treatment of cardiometabolic and inflammatory diseases, closed its public offering resulting in gross proceeds of approximately $25.2 million, before deducting underwriting discounts and other expenses. 

Veru sold (i) 1,400,000 shares of its common stock, (ii) pre-funded warrants to purchase up to 7,000,000 shares of its common stock, and (iii) accompanying Series A warrants to purchase up to 8,400,000 shares of common stock and accompanying Series B warrants to purchase up to 8,400,000 shares of common stock. The combined public offering price of each share of common stock, accompanying Series A warrant and accompanying Series B warrant is $3.00. For investors who elected to purchase pre-funded warrants in lieu of common stock, the combined public offering price for each pre-funded warrant, accompanying Series A warrant and accompanying Series B warrant was $2.999, which equals the combined price at which shares of common stock, accompanying Series A warrants and accompanying Series B warrants were sold in the offering, minus $0.001, the per share exercise price of each pre-funded warrant.

Canaccord Genuity acted as joint book-running manager for the offering.

Veru Inc. is a late clinical stage biopharmaceutical company focused on developing innovative medicines for the treatment of cardiometabolic and inflammatory diseases. Veru’s headquarters are in Miami, FL.