SCYNEXIS Announces $40.0 Million Private Placement

Core Viewpoint - SCYNEXIS, Inc. has entered into a securities purchase agreement to raise approximately $40 million through a private placement, with potential additional proceeds of up to $52.2 million if Common Warrants are fully exercised, aimed at funding operations and general corporate purposes [1][5]. Group 1: Private Placement Details - The private placement will involve the issuance of 34,750,000 shares of common stock, 8,750,000 Pre-Funded Warrants, and Common Warrants for up to 43,500,000 shares [2][4]. - The Common Shares and accompanying Common Warrants were sold at a combined price of $0.92 per share, while the Pre-Funded Warrants were sold at $0.9199 per warrant [2][3]. - The private placement is expected to close on or about April 1, 2026, subject to customary closing conditions [1]. Group 2: Use of Proceeds and Financial Outlook - The net proceeds from the private placement will be used for working capital and general corporate purposes, with existing cash and anticipated proceeds expected to fund operations into mid-2029 [5]. - The Company has agreed to convene a stockholder meeting within 90 days following the closing to seek approval for an increase in authorized shares of common stock [6]. Group 3: Participation and Agents - Participation in the private placement includes new and existing institutional investors such as Great Point Partners, LLC, and Adage Capital Management, L.P., along with the Company's CEO, Dr. David Angulo [4]. - Guggenheim Securities, LLC is acting as the sole placement agent for the private placement [4]. Group 4: Company Overview - SCYNEXIS, Inc. focuses on developing innovative therapies for severe rare diseases, including SCY-770 for Autosomal Dominant Polycystic Kidney Disease (ADPKD), which has received Orphan Drug designation [8].