Auris Medical Holding AG issued and priced its public offering of 10,000,000 common shares and 10,000,000 warrants, each warrant entitling its holder to purchase 0.70 of a common share.
The common shares and warrants are being sold in units comprised of one common share and one warrant at the public offering price of $1.00 per unit. The warrants will be immediately exercisable at a price of $1.20 per common share and are exercisable for five years.
In connection with the offering, the company has granted the underwriter a 30-day option to purchase up to 1,500,000 additional common shares and/or 1,500,000 additional warrants at the public offering price less underwriting discounts.
The offering is expected to close on or about February 21, 2017, subject to customary closing conditions.
Roth Capital Partners is acting as sole book-running manager in the offering. Maxim Group is acting as a financial adviser in the offering.
Auris Medical is a Swiss biopharmaceutical company dedicated to developing therapeutics that address important unmet medical needs in otolaryngology. The shares of Auris Medical trade on the NASDAQ Global Market.
Walder Wyss advises Auris Medical on Swiss law aspects of the transaction. The team is being led by Alex Nikitine (partner, capital markets, corporate/M&A) and further includes Sarah Schulthess (associate, capital markets, corporate/M&A), Janine Corti (counsel, tax) and Ayesha Curmally (partner, notary).
Davis Polk & Wardwell advises Auris Medical on US law aspects. Cooley (as to US law) and Pestalozzi (as to Swiss law) act as legal advisers to Roth Capital Partners.
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