Lexaria Bioscience closes $4 million registered direct offering

Lexaria Bioscience Corp. (NASDAQ: LEXX) announced the completion of a registered direct offering that raised approximately $4.0 million in gross proceeds. The company sold 2,666,667 shares of common stock at $1.50 per share.

The offering included a concurrent private placement of warrants to purchase up to 2,666,667 shares of common stock. The warrants carry an exercise price of $1.37 per share, are immediately exercisable, and expire five years from the effectiveness of the resale registration statement.

H.C. Wainwright & Co. served as the exclusive placement agent for the transaction. The company plans to use net proceeds for working capital and general corporate purposes.

"This financing is intended to provide Lexaria with greater optionality for our 2026 R&D and business development plans," said Richard Christopher, CEO of Lexaria Bioscience Corp.

The shares were offered under a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on January 30, 2025. The warrants were issued in a private placement under Section 4(a)(2) of the Securities Act and have not been registered.

Lexaria develops DehydraTECH, a drug delivery platform technology designed to improve oral drug absorption. The company operates a research laboratory and holds 50 granted patents with additional patents pending worldwide.

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