Lexaria Bioscience Corp. Announces Closing of $3.5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

Core Viewpoint - Lexaria Bioscience Corp. has successfully closed a registered direct offering of 2,661,600 shares of common stock at a price of $1.315 per share, alongside a concurrent private placement of unregistered warrants to purchase the same number of shares at an exercise price of $1.19 per share [1][2]. Group 1: Offering Details - The total gross proceeds from the offering amount to approximately $3.5 million, before deducting fees and expenses [2]. - The shares were offered under a "shelf" registration statement that became effective on January 30, 2025, and the offering was conducted via a prospectus [3]. - The warrants issued in the private placement are immediately exercisable and will expire five years from the effectiveness of the resale registration statement [1][4]. Group 2: Use of Proceeds - The net proceeds from the offering are intended to advance research and development efforts, fund working capital, and support other general corporate purposes [2]. Group 3: Company Overview - Lexaria operates a patented drug delivery platform called DehydraTECH™, which enhances the absorption of various drugs through oral delivery [6]. - The company holds a robust intellectual property portfolio with 56 patents granted and additional patents pending worldwide [7].