Aeon Biopharma (AEON) has priced an underwritten public offering of 42.7 million shares, or pre-funded warrants, for gross proceeds of $13.8 million, the company said Tuesday.
The offering price is $0.3221 per share, or $0.3220 per pre-funded warrant, with each share accompanied by one two-year milestone warrant and one five-year milestone warrant, the company said.
Aeon said it can potentially raise up to $43.3 million due to the additional $29.6 million if the milestone warrants are fully exercised.
The offering is expected to close on or about Wednesday. Proceeds are expected to be used for working capital and general corporate purposes, including conducting comparative analytical testing on ABP-450 to support biosimilarity to Botox, the company said.