Assertio Holdings (NASDAQ: ASRT), a commercial-stage pharmaceutical company, has announced the closing of two registered direct offerings — both completed last month. On Feb. 9, 2021, Assertio closed sales of 22,600,000 shares of common stock; the shares were sold to certain institutional investors at $0.62 per share. The closing of this first registered direct offering totaled $14 million in gross proceeds for the company. The company closed on its second registered direct offering on Feb. 12, 2021. That offering was comprised of 35,000,000 shares of common stock, again sold to certain institutional investors. Those shares were purchased at $0.98 per share, representing a premium to market based on applicable Nasdaq “minimum price” rules. The second direct offering resulted in gross proceeds of ules $34.3 million for the company. In the announcement, Assertio noted that it plans to use the net proceeds from both registered direct offerings for general corporate purposes, including general working capital. Sole placement agent for both direct offerings was Roth Capital Partners.
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About Assertio Holdings Inc.
Assertio is a leading commercial pharmaceutical company bringing differentiated products to patients. The company has a robust portfolio of branded prescription products in three areas: neurology, hospital, and pain and inflammation. Assertio has grown through business development including licensing, mergers and acquisitions. For more information about the company, please visit www.AssertioTX.com.
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