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Mainz Biomed Announces Pricing of $8.0 Million Follow-On Offering Priced at-the-Market Under Nasdaq Rules
1 minute ago, 5:00 PM PST
Via GlobeNewswire
MYNZ
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BERKELEY, Calif. and MAINZ, Germany, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Mainz Biomed N.V. (NASDAQ:MYNZ) ("Mainz Biomed" or the "Company"), a molecular genetics diagnostic company specializing in the early detection of cancer, today announced the pricing of a follow-on offering of 1,367,521 units, with each unit consisting of one ordinary share (or prefunded warrant in lieu thereof) one Series A warrant to purchase one ordinary share, and one series B warrant to purchase one ordinary share for gross proceeds of approximately $8.0 million. Each unit is being sold at an effective offering price of $5.85 per unit, priced at-the-market under Nasdaq rules. Each Series A warrant will be immediately exercisable at an exercise price of $5.85 per share and will expire five years from the date of issuance. Each Series B warrant will be immediately exercisable at an exercise price of $5.85 per share and will expire on the earlier of 30 days following receipt of results from the Company's eAArly Detect 2 study, and one year from the date of issuance.
Maxim Group LLC is acting as the sole placement agent for the offering. The offering is expected to close on or about December 16, 2024, subject to customary closing conditions.
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