Veru announces pricing of public offering of common stock

Miami, dec. 14, 2023 (globe newswire) -- veru inc. (nasdaq: veru), a late clinical stage biopharmaceutical company focused on developing novel medicines for the treatment of metabolic diseases, oncology and viral-induced acute respiratory distress syndrome, announced today the pricing of an underwritten public offering of 45,833,333 shares of its common stock at a price to the public of $0.72 per share. the aggregate gross proceeds to veru from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $33 million. in addition, veru has granted the underwriters a 30-day option to purchase up to an additional 6,874,999 shares of common stock at the public offering price, less underwriting discounts and commissions. all of the securities being sold in the offering are being offered by veru. the offering is expected to close on or about december 18, 2023, subject to the satisfaction of customary closing conditions.
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