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REDWOOD CITY, Calif., May 01, 2022 (GLOBE NEWSWIRE) — Rezolute, Inc. RZLT, a clinical-stage biopharmaceutical company dedicated to developing transformative therapies with the potential to disrupt current treatment paradigms for devastating metabolic diseases, today announced the pricing of an underwritten registered direct offering of an aggregate of 18,026,315 shares of its common stock at an offering price of $3.80 per share, and, to certain investors in lieu of common stock, pre-funded warrants to purchase up to 12,921,055 shares of common stock at an offering price of $3.799 per pre-funded warrant, which represents the per share offering price for the common stock less the $0.001 per share exercise price for each pre-funded warrant. Certain of the pre-funded warrants offered to investors are only exercisable upon receipt of stockholder approval of an increase in the authorized shares of Rezolute’s common stock which Rezolute will first seek to obtain at an annual meeting of stockholders to be held by June 30, 2022, and the shares of common stock underlying such pre-funded warrants are not being registered under the Securities Act of 1933, as amended (the “Securities Act”). Concurrent with the underwritten registered direct offering, certain existing investors agreed to purchase pre-funded warrants to purchase up to 3,263,157 shares of common stock in a private placement at the same offering price as the offering price of the pre-funded warrants offered in the underwritten registered direct offering. Gross proceeds from the underwritten registered direct offering and the concurrent private placement before deducting underwriting discounts and commissions, placement agent fees and other offering expenses are expected to be approximately $130 million. The pre-funded warrants issued in the private placement and the shares of our common stock issuable upon exercise of such pre-funded warrants are not being registered under the Securities Act, but are being…
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