Outlook Therapeutics to Offer 16.129M Shares at $0.31 Each

Outlook Therapeutics announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 16.129M shares of its common stock at an offering price of 31c per share of common stock in a registered direct offering priced at-the-market under Nasdaq rules. Additionally, in a concurrent private placement, the company will issue unregistered warrants to purchase up to an aggregate of 16.129M shares of common stock at an exercise price of 31c per share. The unregistered warrants will become exercisable on the later of the date of stockholder approval of the issuance of the shares underlying the warrants and the effective date of an amendment to the company's certificate of incorporation to increase the authorized shares of the company and will expire five years following the later of the date the unregistered warrants are first exercisable and the effective date of the registration statement registering the resale of the shares of common stock issuable upon exercise of the unregistered warrants. The closing of the offering is expected to occur on or about April 23, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.