Aytu BioPharma prices $4M at-the-market offering, appoints new director, extends loan interest-only period

AYTU BIOPHARMA, INC

Gross proceeds of ~$4M from 1.74M shares and pre-funded warrants at $1.84/unit; offering expected to close June 13, 2023.
Abhinav Jain of Nantahala Capital appointed to Board; Board increases from 4 to 5 members.
Company to focus on Rx segment, de-emphasize or monetize Consumer Health segment, suspend pipeline programs.
Closing of offering extends interest-only period on $15M Avenue Capital term loan through maturity in January 2025.
Common warrants (Tranche A & B) exercisable at $1.59/share for up to 4.35M shares; potential additional $7M.

item 1.01 item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

Abhinav Jain

Director

AYTU · AYTU BIOPHARMA, INC

Filed: June 12, 2023, 7:59 PM ET

Pursuant to the terms of the Purchase Agreement, effective as of the closing of the Offering, the size of the Board will be increased from four (4) to five (5), and Abhinav Jain shall be appointed to the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Abhinav Jain was appointed as Director at AYTU BIOPHARMA, INC.

Action: appointed
Role: Director

Exact text from the filing

Pursuant to the terms of the Purchase Agreement, effective as of the closing of the Offering, the size of the Board will be increased from four (4) to five (5), and Abhinav Jain shall be appointed to the Board.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AYTU BIOPHARMA, INC entered into Purchase Agreement with certain investors valued at approximately $4 million (effective 2023-06-08).

Action: entry
Agreement: equity purchase
Counterparty: certain investors
Value: approximately $4 million
Effective: 2023-06-08

Exact text from the filing

On June 8, 2023, Aytu BioPharma, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain investors named therein (the “Purchasers”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AYTU BIOPHARMA, INC entered into PAA with Maxim Group LLC (effective 2023-06-08).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Effective: 2023-06-08

Exact text from the filing

amed therein (the “Purchasers”), and a placement agency agreement (the “PAA”) with Maxim Group LLC (the “Placement Agent”), pursuant to which the Company agreed to issue and sell to investors in the offering (the

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AYTU BIOPHARMA, INC filing history →

Source: SEC EDGAR

accession 0001104659-23-070444

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