Lexaria Bioscience Corp. has entered into a definitive agreement with an institutional investor to sell 2 million shares of common stock at $1.00 per share, raising a total of $2 million in a registered direct offering. H.C. Wainwright & Co. is serving as the exclusive placement agent for the transaction.
The capital raise is being conducted under a previously filed shelf registration statement that was declared effective by the Securities and Exchange Commission in January 2025. The company plans to use the net proceeds for working capital and general corporate purposes, demonstrating a strategic approach to maintaining financial flexibility.
This offering represents an important milestone for Lexaria, which is known for its DehydraTECH drug delivery platform technology. The company's patented technology focuses on improving oral drug delivery, potentially increasing bio-absorption and reducing side effects across various pharmaceutical applications.
The stock offering is expected to close on or about April 28, 2025, subject to standard closing conditions. By securing this investment, Lexaria continues to position itself for potential future research and development initiatives in its core technological focus areas.
