Eupraxia files preliminary prospectus for offering

Executive Summary

• Eupraxia Pharmaceuticals Inc. has filed a preliminary prospectus supplement for a proposed public offering of common shares, registered via a Form-10 with the SEC and a short-form base shelf prospectus in Canada.
• The offering includes a 30-day over-allotment option for underwriters to purchase up to an additional 15% of the shares.
• Net proceeds are intended primarily for advancing the product pipeline, including preclinical studies, clinical trials, regulatory submissions, and manufacturing scale-up.

Key Details

• Offering Structure: Proposed public offering of common shares.
• Underwriters: Cantor Fitzgerald & Co. and LifeSci Capital LLC acting as joint bookrunning managers; Bloom Burton Securities Inc. acting as co-manager.
• Over-Allotment Option: Underwriters have a 30-day option to purchase up to an additional 15% of the number of common shares offered.
• Pricing: Expected to be priced in the context of the market; final terms to be determined at pricing.
• Listing Conditions: Closing is subject to customary conditions, including listing on the Toronto Stock Exchange (TSX) and Nasdaq Capital Market, and required TSX approvals.
• 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 corporate infrastructure.
• Regulatory Filings: Preliminary prospectus supplement filed with Canadian securities regulators and the SEC (Form-10, amended, declared effective Feb. 7, 2024).

Notable Quotes

• None provided in the text.