AEON Biopharma(US:AEON) Newsfilterยท2024-03-29 20:15Core Viewpoint - AEON Biopharma, Inc. announced the redemption of all outstanding Public Warrants for its Class A common stock at a price of $0.10 per warrant, effective March 29, 2024, following the terms of the Warrant Agreement [1][2]. Group 1: Redemption Details - The Company can redeem all outstanding Public Warrants if the last sales price of the Common Stock is at least $10.00 per share for twenty trading days within a thirty-day period prior to the redemption notice [2]. - A notice of redemption has been delivered to all registered holders of the outstanding Public Warrants [2]. - Upon notice of redemption, all Public Warrants must be exercised on a "cashless basis," meaning holders cannot pay cash to exercise the warrants [3]. Group 2: Cashless Exercise Mechanism - The number of shares received by warrant holders upon cashless exercise will be calculated based on the Fair Market Value of the Common Stock as defined in the Warrant Agreement [4]. - The Redemption Fair Market Value is determined by the volume weighted average price of the Common Stock for the ten trading days following the redemption notice [4]. - Any fractional shares resulting from the exercise will be rounded down to the nearest whole number [4]. Group 3: Company Overview - AEON is a clinical-stage biopharmaceutical company focused on developing a proprietary botulinum toxin complex, ABP-450, for various medical conditions, with an initial focus on the neurosciences market [7]. - The Company has completed a Phase 2 study for cervical dystonia and is conducting another Phase 2 study for chronic migraine prevention [7]. - ABP-450 is manufactured in compliance with cGMP and has been approved by regulatory bodies including the FDA and EMA [7][8].