SCYNEXIS (NASDAQ:SCYX) reported the pricing of its previously revealed underwritten public offering of 38,888,889 shares

On Tuesday SCYNEXIS (NASDAQ:SCYX) started its trading session with the price $0.73 and closed at price of $0.82 by scoring -13.95%. Day range of the stock was $0.7 – $0.89. SCYX stock traded with total volume of 10128544 shares while the average trading capacity remained 385153 shares.  Earnings per share was $-0.72. SCYX has total market capitalization of $48132725.

On Dec. 10, 2019, SCYNEXIS (NASDAQ:SCYX) reported the pricing of its previously revealed underwritten public offering of 38,888,889 shares of common stock and warrants to purchase up to 38,888,889 shares of common stock. Each share of common stock and warrant to purchase one share of common stock are being sold at a combined public offering price of $0.90 per share and accompanying warrant. The gross proceeds to SCYNEXIS from this offering are expected to be approximately $35 million, before deducting underwriting discounts and commissions and other estimated offering expenses, and excluding the exercise of any warrants. All of the shares of common stock and warrants are being offered by SCYNEXIS.

H.C. Wainwright & Co. is acting as sole book-running manager for the offering.

The warrants will have an exercise price of $1.10 per share and exercise period commencing immediately upon issuance and an expiration date of the earlier of (i) such date that is six months after SCYNEXIS publicly announces the approval from the U.S. Food and Drug Administration for ibrexafungerp for the treatment of vulvovaginal candidiasis and (ii) June 12, 2023.  There is no established public trading market for the warrants, and SCYNEXIS does not expect a market to develop.

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