Genprex, Inc., a clinical-stage gene therapy company focused on developing life-changing therapies for patients with cancer and diabetes, has announced that it has entered into definitive agreements for the issuance and sale of 377,780 shares of common stock at a purchase price of $9.00 per share in a registered direct offering priced at-the-market under Nasdaq rules.
In a concurrent private placement, the company will issue unregistered short-term warrants to purchase an aggregate of up to 755,560 shares of common stock at an exercise price of $8.75 per share that will be immediately exercisable upon issuance and will expire 24 months from the effective date of a registration statement registering for resale the shares of common stock underlying the warrants.
The closing of the offering is expected to occur on or about October 29, 2025, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds to the company from the offering are expected to be approximately $3.4 million before deducting placement agent fees and other offering expenses payable by the company.
The potential additional gross proceeds to the company from the short-term warrants, if fully exercised on a cash basis, will be approximately $6.6 million.
No assurance can be given that any of such short-term warrants will be exercised for cash or at all. The company intends to use the net proceeds from the offering for working capital and general corporate purposes.
The shares of common stock offered in the registered direct offering (but not the unregistered short-term warrants issued in the concurrent private placement nor the shares of common stock underlying the unregistered short-term warrants) described above are being offered by the company pursuant to a “shelf” registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on June 9, 2023.
The offering of the shares of common stock in the registered direct offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.
A final prospectus supplement and accompanying prospectus relating to the registered direct offering will be filed with the SEC.
