Tenax Therapeutics prices 378,346 shares at $6.04 in private placement

Tenax Therapeutics (TENX) has entered into a securities purchase agreement for a private placement financing with RTW Investments, which is expected to result in total gross proceeds of approximately $25M to the Company, before deducting placement agent fees and other private placement expenses. The private placement will be for an aggregate of 378,346 shares of the Company’s common stock and pre-funded warrants to purchase an aggregate of 3,760,726 shares of common stock. The purchase price for each share of common stock is $6.04. The pre-funded warrants are exercisable at any time after their original issuance and will not expire. The private placement is expected to close on March 5, 2025, subject to the satisfaction of customary closing conditions. Leerink Partners is acting as the lead placement agent for the private placement and is joined by Guggenheim Securities and William Blair as joint placement agents. The Company intends to use the net proceeds from the private placement to advance the Company’s ongoing and planned Phase 3 clinical trials, as well as for working capital, capital expenditures, and other general corporate purposes.