ZyVersa Therapeutics, Inc. Announces Pricing of $2.0 Million Private Placement Priced At The Market

Core Viewpoint - ZyVersa Therapeutics, Inc. has entered into a securities purchase agreement with a U.S. institutional investor for the sale of 2,105,265 shares of common stock and warrants, raising approximately $2.0 million in gross proceeds at an effective price of$0.95 per share [1][2]. Group 1: Securities Offering Details - The offering includes 2,105,265 shares of common stock and warrants to purchase an equal number of shares at an exercise price of $1.00, with the warrants expiring five years from the initial exercise date [1]. - The closing of the offering is expected around March 7, 2025, pending customary closing conditions [2]. - The net proceeds from the offering will be used for general working capital [2]. Group 2: Registration and Compliance - The securities are being offered in a transaction not involving a public offering and will not be registered under the Securities Act of 1933 initially [3]. - The company is required to file a registration statement with the SEC covering the resale of the securities within 10 days after the filing of its Annual Report on Form 10-K [4]. Group 3: Warrant Amendments - Existing warrants to purchase 957,200 shares at an exercise price of$2.06 will be amended to a reduced exercise price of $1.00, subject to stockholder approval [6]. Group 4: Company Overview - ZyVersa Therapeutics is a clinical stage biopharmaceutical company focused on developing first-in-class drugs for inflammatory and renal diseases, with a total accessible market exceeding$100 billion [7]. - The company is advancing its proprietary technologies, including a monoclonal antibody for obesity-related metabolic complications and a treatment for focal segmental glomerulosclerosis [7].