Outlook Therapeutics receives FDA SPA agreement for NORSE EIGHT trial; announces up to $172M private placement

Outlook Therapeutics, Inc.

FDA agreed under SPA to NORSE EIGHT non-inferiority trial (~400 wet AMD subjects); primary endpoint BCVA change at 8 weeks.
Private placement of up to $60M in common stock plus warrants for up to $99M additional proceeds upon cash exercise.
Existing note amended: maturity extended to July 1, 2025; conversion price reduction on $15M principal tied to qualified offering.
Closing conditioned on stockholder approval of share increase, reverse split, and Nasdaq Rule 5635(d) approval; expected Q1 2024.
Proceeds to fund NORSE EIGHT, other ONS-5010 development, working capital; BLA resubmission targeted by end of CY2024.

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Key facts

Extracted from this filing and checked against the source text.

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

Outlook Therapeutics, Inc. entered into Securities Purchase Agreement with the institutional and accredited investors named therein valued at $60 million (effective 2024-01-22).

Action: entry
Agreement: equity purchase
Counterparty: the institutional and accredited investors named therein
Value: $60 million
Effective: 2024-01-22

Exact text from the filing

On January 22, 2024, Outlook Therapeutics, Inc. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with the institutional and accredited investors named therein (the “Investors”), pursuant to which the Company agreed to issue and sell to the Investors, and the Investors agreed to purchase, in a private placement (the “Private Placement”) an aggregate of $60 million in shares

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

Outlook Therapeutics, Inc. entered into Registration Rights Agreement with the Investors (effective 2024-01-22).

Action: entry
Counterparty: the Investors
Effective: 2024-01-22

Exact text from the filing

Also on January 22, 2024, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) with the Investors

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119 material agreements filed in the last 30 days. Browse all material agreements →

Outlook Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-006019

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