Azitra, Inc. Announces Pricing of Public Offering

Core Viewpoint - Azitra, Inc. has announced a public offering of 16,667,000 shares of common stock at a price of $0.30 per share, aiming to raise approximately $5 million for clinical trials, product development, and general corporate purposes [1][2]. Group 1: Offering Details - The public offering is priced at $0.30 per share, with gross proceeds expected to be around $5 million before deductions [1]. - Azitra has granted underwriters a 45-day option to purchase an additional 2,500,000 shares to cover over-allotments at the public offering price [1]. - The offering is expected to close on February 16, 2024, subject to customary closing conditions [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for clinical trials, product development, research and development, clinical manufacturing, and working capital [1]. Group 3: Company Overview - Azitra, Inc. is a clinical-stage biopharmaceutical company focused on precision dermatology, utilizing engineered proteins and topical live biotherapeutic products [4]. - The company has developed a proprietary platform that includes a microbial library of approximately 1,500 unique bacterial strains, enhanced by AI and machine learning technologies [4].