BRANFORD, Conn., June 15,
2023 /PRNewswire/ -- Azitra, Inc. (NYSE American:
AZTR) (the "Company"), a biopharmaceutical company focused on
developing innovative therapies for precision dermatology using
engineered proteins and topical live biotherapeutic products, today
announced the pricing of its initial public offering of 1,500,000
shares of common stock at a public offering price of $5.00 per share, for aggregate gross proceeds of
$7,500,000 prior to deducting
underwriting discounts and other offering expenses. In addition,
the Company has granted the underwriters a 45-day option to
purchase up to an additional 225,000 shares of common stock at the
public offering price less discounts, to cover over-allotments.
The shares of common stock are expected to begin trading on the
NYSE American under the ticker symbol "AZTR" on June 16, 2023. The offering is expected to close
on June 21, 2023, subject to
satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the initial
public offering for clinical trials and product development,
research and development, clinical manufacturing as well as for
working capital and other general corporate purposes.
ThinkEquity is acting as sole book-running manager for the
offering.
A registration statement on Form S-1 (File No. 333-269876)
relating to the shares being sold in this offering has been filed
with the U.S. Securities and Exchange Commission (the "SEC") and
became effective on June 15, 2023.
This offering is being made only by means of a prospectus.
Electronic copies of the final prospectus, when available, may be
obtained from ThinkEquity, 17 State Street, 41st Floor,
New York, New York 10004. The
final prospectus will be filed with the SEC and will be available
on the SEC's website located at http://www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Azitra, Inc.
Azitra, Inc. is an early-stage
clinical biopharmaceutical company focused on developing innovative
therapies for precision dermatology using engineered proteins and
topical live biotherapeutic products. The Company has built a
proprietary platform that includes a microbial library comprised of
approximately 1,500 unique bacterial strains that can be screened
for unique therapeutic characteristics. The platform is augmented
by an artificial intelligence and machine learning technology that
analyzes, predicts and helps screen the Company's library of
strains for drug like molecules. The Company's initial focus is on
the development of genetically engineered strains of Staphylococcus
epidermidis, or S. epidermidis, which the Company considers to be
an optimal therapeutic candidate species for engineering of
dermatologic therapies. For more information, please visit
https://azitrainc.com/.
Forward Looking Statements
This press release contains
"forward-looking statements" that are subject to substantial risks
and uncertainties. All statements, other than statements of
historical fact, contained in this press release are
forward-looking statements. Forward-looking statements contained in
this press release may be identified by the use of words such as
"anticipate," "believe," "contemplate," "could," "estimate,"
"expect," "intend," "seek," "may," "might," "plan," "potential,"
"predict," "project," "target," "aim," "should," "will" "would," or
the negative of these words or other similar expressions, although
not all forward-looking statements contain these words.
Forward-looking statements are based on Azitra, Inc.'s current
expectations and are subject to inherent uncertainties, risks and
assumptions that are difficult to predict. Further, certain
forward-looking statements are based on assumptions as to future
events that may not prove to be accurate. These and other risks and
uncertainties are described more fully in the section titled "Risk
Factors" in the final prospectus related to the public offering
filed with the SEC. Forward-looking statements contained in this
announcement are made as of this date, and Azitra, Inc. undertakes
no duty to update such information except as required under
applicable law.
CONTACT
Norman
Staskey
Danforth Advisors
nstaskey@danforthadvisors.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/azitra-inc-announces-pricing-of-initial-public-offering-301852692.html
SOURCE Azitra, Inc.