Eupraxia prices shares of offering at $5.50 (U.S.)

Executive Summary

• Eupraxia Pharmaceuticals Inc. has priced its public offering of 12,727,273 common shares at $5.50 USD per share, raising approximately $70 million USD in gross proceeds.
• The company has granted underwriters a 30-day option to purchase up to an additional 1,909,090 common shares on the same terms.
• Net proceeds will primarily fund the advancement of the product pipeline, including preclinical studies, clinical trials, regulatory submissions, and manufacturing scale-up, with additional allocations for R&D, business development, and general corporate purposes.

Key Details

• Offering Size: 12,727,273 common shares.
• Price: $5.50 USD per common share.
• Gross Proceeds: Approximately $70 million USD (before deducting underwriting commissions and estimated expenses).
• Over-Allotment Option: Underwriters granted a 30-day option to purchase up to 1,909,090 additional common shares on the same terms.
• Seller: All common shares are being sold by the company.
• Closing Date: Expected to close on Sept. 24, 2025, subject to customary conditions, including listing on the Toronto Stock Exchange (TSX) and Nasdaq Capital Market.
• Underwriters:
  • Joint Book-Running Managers: Cantor Fitzgerald & Co. and LifeSci Capital LLC.
  • Co-Manager: Bloom Burton Securities Inc.
• Use of Proceeds:
  • Continued advancement of product pipeline (preclinical studies, clinical trials, regulatory submissions).
  • Commercial preparation and manufacturing scale-up activities.
  • Research and development of additional pipeline candidates.
  • Business development initiatives.
  • General corporate purposes (employee salaries, working capital, facility leases, administrative expenses, capital expenditures).
  • Expansion of intellectual property portfolio and strengthening of corporate infrastructure.
• Regulatory Filings:
  • U.S. Registration Statement on Form F-10 (declared effective Feb. 7, 2024).
  • Canadian Short Form Base Shelf Prospectus (dated Feb. 5, 2024).
  • Preliminary prospectus supplement filed with securities commissions in all Canadian provinces/territories (except Quebec) and the SEC.
  • Final prospectus supplement to be filed with relevant commissions and the SEC.