TORONTO - Venus Concept Inc. (NASDAQ: NASDAQ:VERO), a global medical aesthetic technology leader, disclosed today its definitive agreements for a registered direct offering and concurrent private placement. The company is set to sell 817,748 shares of common stock at $1.465 per share. Alongside this, Venus Concept will issue warrants to purchase up to an equivalent number of shares at an exercise price of $1.34 per share, which will be immediately exercisable and expire five years from the date of issuance.
The transaction is expected to close on or around February 27, 2024, subject to customary closing conditions. H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering. The company anticipates gross proceeds of approximately $1.2 million, before deducting placement agent fees and other offering expenses.
The funds raised are intended for general corporate purposes. The common stock is being offered pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC) on October 25, 2021. A final prospectus supplement and accompanying prospectus will be filed with the SEC.
The unregistered warrants, as well as the shares of common stock underlying the warrants, are being offered in a private placement under specific securities regulations and have not been registered under the Securities Act or any state securities laws. These securities may not be sold in the United States absent registration or an exemption from registration requirements.
Venus Concept's portfolio includes a range of medical aesthetic devices and hair restoration systems. The company operates in over 60 countries and has direct markets in 12 regions. Its backing comes from notable healthcare industry growth equity investors.
This announcement contains forward-looking statements which involve risks and uncertainties. These include statements about the company's financial condition and the completion of the offering. Investors are cautioned that such statements are not guarantees of future performance and actual results may differ materially. The information in this article is based on a press release statement from Venus Concept Inc.
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