NERVGEN ANNOUNCES $20 MILLION BOUGHT DEAL OFFERING
/NOT FOR DISTRIBUTION TO
Each Unit will consist of one common share of the
The Underwriters will also have the option, exercisable in whole or in part at any time on or up to 30 days after the closing of the Offering, to purchase up to an additional 15% of the Units offered in the Offering to cover over-allotments, if any, and for market stabilization purposes (the "Over-Allotment Option"). The Over-Allotment Option shall be exercisable for any number of Additional Units, Common Shares, Warrants, or any combination thereof as determined by the Underwriters. In the event that the Over-Allotment Option is exercised in its entirety for additional Units, the aggregate gross proceeds of the Offering will be approximately
The net proceeds of the Offering will be used for future growth initiatives, working capital and general corporate purposes.
The Offering is scheduled to close on or about
The Units will be offered by way of a shelf prospectus supplement to be filed in each of the provinces of
Certain insiders of the Company, led by an entity associated with PFP Biosciences, the largest inside shareholder who invested
This press release is not an offer or a solicitation of an offer of securities for sale in
Neither the
NervGen (TSXV: NGEN) (OTCQX: NGENF) is a clinical stage biotech company dedicated to developing innovative treatments that enable the nervous system to repair itself following damage, whether due to injury or disease. NervGen's lead drug candidate, NVG-291, is being evaluated in a Phase 1b/2a clinical trial. The Company's initial target indication is spinal cord injury. For more information, go to www.nervgen.com and follow NervGen on Twitter, LinkedIn, and Facebook for the latest news on the Company.
Contacts
htracey@nervgen.com
604.537.2094
info@nervgen.com
778.731.1711
This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and
Forward-looking statements are based on estimates and assumptions made by the Company in light of management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. In making forward-looking statements, the Company has relied on various assumptions, including, but not limited to: the Company's ability to manage the effects of COVID-19; the accuracy of the Company's financial projections; the Company obtaining positive results in its clinical and other trials; the Company obtaining necessary regulatory approvals; and general business, market and economic conditions.
Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including without limitation, a lack of revenue, insufficient funding, the impact of COVID-19, reliance upon key personnel, the uncertainty of the clinical development process, competition, and other factors set forth in the "Risk Factors" section of the Company's Annual Information Form, Prospectus Supplement, financial statements and Management Discussion and Analysis which can be found on SEDARplus.ca. All clinical development plans are subject to additional funding.
Readers should not place undue reliance on forward-looking statements made in this news release. Furthermore, unless otherwise stated, the forward-looking statements contained in this news release are made as of the date of this news release, and we have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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