Scorpius (NYSE American: SCPX), an integrated contract development and manufacturing organization (“CDMO”), has announced the pricing of its underwritten public offering of 60,000,000 common units and/or pre-funded units in lieu thereof. Each common (or pre-funded) unit is being offered at a public offering price of $0.10 (inclusive of the pre-funded warrant exercise price) and consists of one share of common stock (or pre-funded warrant to purchase one share of common stock in lieu thereof) and a common warrant to purchase one share of common stock. The common warrants will have an exercise price of $0.12 per share and will be immediately exercisable upon issuance for a period of five years. The gross proceeds to Scorpius are expected to be approximately $6,000,000, from which it intends to use the net proceeds to fund working capital, general corporate purposes, and the repayment of a $750,000 non-convertible promissory note, plus accrued and unpaid interest. In addition, the company granted the underwriters a 45-day option to purchase up to an additional 9,000,000 shares of common stock (and/or pre-funded warrants) and/or up to an additional 9,000,000 common warrants solely to cover over-allotments, if any. Subject to customary conditions, the offering is expected to close on May 16, 2024. ThinkEquity is acting as sole book-running manager for the offering.
To view the full press release, visit https://ibn.fm/mzupt
About Scorpius Holdings Inc.
Scorpius is an integrated large molecule contract development and manufacturing organization (“CDMO”) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, Texas. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, visit www.ScorpiusBiologics.com.
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