Clarus Therapeutics Announces Pricing of Upsized $30.0 Million Underwritten Public Offering

NORTHBROOK, Ill., April 25, 2022 (GLOBE NEWSWIRE) -- Clarus Therapeutics Holdings, Inc. (Clarus) (Nasdaq:CRXT), a pharmaceutical company dedicated to providing solutions to unmet medical needs by advancing androgen and metabolic therapies for men and women, today announced the pricing of its underwritten public offering of (i) units consisting of 26,680,720 shares of its common stock and accompanying Class A warrants to purchase up to 26,680,720 shares of its common stock and (ii) units consisting of pre-funded warrants to purchase up to 590,000 shares of common stock and accompanying Class A warrants to purchase up to 590,000 shares of common stock. Each share of common stock (or pre-funded warrant) is being sold together with one Class A warrant at a combined purchase price of $1.10 per unit (or $1.10 (less) $0.001 (the exercise price of the pre-funded warrants) for units comprising pre-funded warrants and accompanying Class A warrants). Clarus also granted the underwriter an option to purchase up to an additional 4,090,608 shares of common stock and/or Class A warrants to purchase up to 4,090,608 shares of common stock. The Class A warrants will be immediately exercisable at a price of $1.10 per share and will expire five years from the date of issuance. The shares of common stock (or pre-funded warrants in lieu thereof) and accompanying Class A warrants can only be purchased together in the offering, but will be issued separately and will be immediately separable upon issuance. The pre-funded warrants and the Class A warrants will not be listed on any exchange. Gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses, and excluding the proceeds from the exercise of any Class A warrants and the exercise of the underwriter’s overallotment option, are expected to be approximately $30.0 million. The offering is expected to close on April 27, 2022, subject to customary closing conditions.

Read more at globenewswire.com