Lexaria Announces Closing of Exercise of Warrants for Approximately $5.9 Million in Gross Proceeds
Lexaria Bioscience Corp. closed the exercise of certain outstanding warrants covering 453,969 common shares at a reduced exercise price of $12.92 per share, generating approximately $5.9 million in gross proceeds. H.C. Wainwright & Co. acted as exclusive placement agent for the offering.
Why it matters — LEXX watchers would note the additional capital the company has secured through the warrant exercise, which strengthens its financial position.