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Press release content from ACCESSWIRE. The AP news staff was not involved in its creation.
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Press release content from ACCESSWIRE. The AP news staff was not involved in its creation.

AzurRx BioPharma Announces Closing of $5.0 Million Public Offering of Common Stock

July 23, 2019

BROOKLYN, NY / ACCESSWIRE / July 22, 2019 / AzurRx BioPharma (NASDAQ: AZRX), (“AzurRx” or the “Company”), today announced the closing and funding of its previously announced underwritten public offering of five million shares of its common stock at a price to the public of $1.00 per share. The gross proceeds from the offering, before deducting the underwriting discounts and commissions and estimated offering expenses, are $5.0 million.

H.C. Wainwright & Co. acted as the sole book-running manager for the offering. National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NHLD), acted as a co-manager for the offering.

The Company also granted the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock, at the public offering price, less underwriting discounts and commissions.

AzurRx currently intends to use the net proceeds from the offering primarily for research and development expenses associated with its continuing clinical development and testing of MS1819-SD, advancing its preclinical programs for AZX1103, and for other general corporate purposes and capital expenditures.

A shelf registration statement on Form S-3 (Registration No. 333-231954) relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on June 25, 2019. A final prospectus supplement describing the terms of the offering was filed with the SEC on July 19, 2019, and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, or by calling (646) 975-6996 or by emailing .

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.

About AzurRx

AzurRx BioPharma, Inc. (NASDAQ: AZRX) is engaged in the research and development of non-systemic biologics for the treatment of patients with gastrointestinal disorders. MS1819-SD, a recombinant lipase for exocrine pancreatic insufficiency, is the Company’s lead development program, and additional early stage research is being conducted for the prevention of certain hospital-acquired infections. The Company is headquartered in Brooklyn, NY, with scientific operations based in Langlade, France. Additional information on AzurRx can be found at www.azurrx.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release are forward-looking statements, including statements regarding the Company’s expectations on the anticipated use of proceeds from the public offering. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including the risks and uncertainties inherent in AzurRx’s business, including those described in the Company’s prior press releases and in the periodic reports it files with the SEC. The events and circumstances reflected in the Company’s forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Except as required by applicable law, the Company does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.


AzurRx BioPharma, Inc.

760 Parkside Avenue, Suite 304

Brooklyn, NY 11226

Phone: 646.699.7855


SOURCE: AzurRx BioPharma, Inc.

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