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AEON Biopharma (NYSE: AEON) has announced the launch of a proposed public offering of units comprising common stock (or pre-funded warrants) and warrants to purchase common stock. The clinical-stage biopharmaceutical company, focused on developing a botulinum toxin complex under a 351(k) biosimilar pathway, has appointed Aegis Capital Corp. as the sole book-running manager on a firm commitment basis.
The offering includes a 45-day option for Aegis Capital Corp. to purchase additional shares up to 15% of total shares sold to cover over-allotments. AEON plans to use the net proceeds for general corporate and working capital needs. The offering is being conducted through an effective shelf registration statement on Form S-3 and is subject to market conditions, with no guarantee of completion or final terms.
AEON Biopharma (NYSE: AEON) ha annunciato il lancio di un’offerta pubblica proposta di unità composte da azioni ordinarie (o warrant pre-finanziati) e warrant per l’acquisto di azioni ordinarie. L’azienda biopharmaceutica in fase clinica, focalizzata sullo sviluppo di un complesso tossico botulinico secondo un percorso biosimilare 351(k), ha nominato Aegis Capital Corp. come unico gestore dell’offerta su base di impegno fermo.
L’offerta include un’opzione di 45 giorni per Aegis Capital Corp. di acquistare ulteriori azioni fino al 15% del totale delle azioni vendute per coprire sovrallocamenti. AEON prevede di utilizzare i proventi netti per esigenze generali aziendali e di capitale circolante. L’offerta viene condotta attraverso una dichiarazione di registrazione a scaffale efficace sul modulo S-3 ed è soggetta alle condizioni di mercato, senza garanzia di conclusione o termini finali.
AEON Biopharma (NYSE: AEON) ha anunciado el lanzamiento de una oferta pública propuesta de unidades que comprenden acciones ordinarias (o warrants prefinanciados) y warrants para comprar acciones ordinarias. La compañía biofarmacéutica en etapa clínica, centrada en desarrollar un complejo de toxina botulínica bajo una vía biosimilar 351(k), ha designado a Aegis Capital Corp. como el único gerente de libro de la oferta con un compromiso firme.
La oferta incluye una opción de 45 días para que Aegis Capital Corp. adquiera acciones adicionales hasta el 15% del total de acciones vendidas para cubrir sobreasignaciones. AEON planea utilizar los ingresos netos para necesidades corporativas generales y de capital de trabajo. La oferta se lleva a cabo a través de una declaración de registro de estante efectiva en el formulario S-3 y está sujeta a condiciones de mercado, sin garantía de finalización o términos finales.
AEON Biopharma (NYSE: AEON)은 보통주 (또는 사전 자금 지원된 워런트)와 보통주 구매를 위한 워런트로 구성된 유닛의 공모 제안을 발표했습니다. 임상 단계의 생물제약 회사로서, 351(k) 바이오시밀러 경로에 따라 보툴리눔 독소 복합체를 개발하는 데 중점을 두고 있으며, Aegis Capital Corp.를 단독 북 커버리지 매니저로 임명했습니다.
이번 공모에는 Aegis Capital Corp.가 판매된 총 주식의 최대 15%까지 추가 주식을 구매할 수 있는 45일간의 옵션이 포함되어 있습니다. AEON은 순수익을 일반 기업 운영 및 운전 자본 필요에 사용할 계획입니다. 이번 공모는 효력 있는 선반 등록 성명서를 통해 진행되며, 시장 상황에 따라 다르며, 완료 또는 최종 조건에 대한 보장은 없습니다.
AEON Biopharma (NYSE: AEON) a annoncé le lancement d’une offre publique proposée d’unités comprenant des actions ordinaires (ou des bons préfinancés) et des bons d’achat d’actions ordinaires. Cette entreprise biopharmaceutique en phase clinique, axée sur le développement d’un complexe de toxines botuliques selon une voie biosimilaire 351(k), a nommé Aegis Capital Corp. en tant que seul gestionnaire de livre sur une base d’engagement ferme.
L’offre inclut une option de 45 jours pour Aegis Capital Corp. d’acheter des actions supplémentaires jusqu’à 15 % du total des actions vendues pour couvrir les surallocations. AEON prévoit d’utiliser les produits nets pour ses besoins en fonds de roulement et pour ses besoins d’exploitation générale. L’offre est réalisée par le biais d’une déclaration d’enregistrement de type étagère efficace sur le formulaire S-3 et est soumise aux conditions du marché, sans garantie de réalisation ou de conditions finales.
AEON Biopharma (NYSE: AEON) hat die Einführung eines vorgeschlagenen öffentlichen Angebots von Einheiten bekannt gegeben, die aus Stammaktien (oder vorfinanzierten Warrants) und Warrants zum Kauf von Stammaktien bestehen. Das klinische Biopharmazeutikunternehmen, das sich auf die Entwicklung eines Botulinumtoxin-Komplexes im Rahmen eines 351(k) Biosimilar-Pfads konzentriert, hat Aegis Capital Corp. als einzigen Book-Running-Manager auf fester Verpflichtungsbasis bestellt.
Das Angebot enthält eine 45-tägige Option für Aegis Capital Corp., zusätzliche Aktien bis zu 15 % der insgesamt verkauften Aktien zu erwerben, um Überzuteilungen zu decken. AEON plant, die Nettoerlöse für allgemeine Unternehmens- und Betriebskapitalbedürfnisse zu verwenden. Das Angebot wird über eine wirksame Shelf-Registrierungserklärung auf Formular S-3 durchgeführt und unterliegt den Marktbedingungen, ohne Garantie für den Abschluss oder die endgültigen Bedingungen.
Positive
- Secured firm commitment from Aegis Capital Corp. as book-running manager
- Effective shelf registration statement already in place
- Additional working capital to support operations
Negative
- Potential dilution for existing shareholders
- Uncertain offering terms and completion timeline
- Market-dependent pricing conditions
Insights
<p>This public offering announcement represents a significant capital-raising initiative that could substantially dilute existing shareholders. The structure combining common stock with warrants suggests a complex financing arrangement typical of smaller biotech companies seeking to maintain operational runway. The inclusion of pre-funded warrants indicates an effort to provide flexibility for investors who may face ownership limitations.</p><p>The firm commitment from Aegis Capital Corp reduces execution risk compared to a best-efforts offering, though the <money>22.8M</money> market cap suggests this could be a material dilution event. The 15% over-allotment option provides additional upside potential for the offering size if market demand proves strong. The use of proceeds for “general corporate and working capital needs” is notably broad and may indicate near-term cash constraints.</p><p>For retail investors: Think of this like a company issuing new shares plus “stock coupons” (warrants) that let investors buy more shares later at a set price. While this brings in needed cash, it typically pushes the stock price down since there will be more shares in circulation.</p>
<p>The 351(k) biosimilar pathway for botulinum toxin development represents a strategic approach to enter the lucrative neurotoxin market with potentially lower development costs and risks compared to novel drug development. However, the timing of this capital raise, coming after the S-3 registration became effective in August 2024, suggests increasing urgency to secure funding for ongoing clinical programs.</p><p>The shelf registration allows for rapid execution of this offering, but the combination of shares and warrants in units, plus pre-funded warrants, indicates the company may be struggling to attract traditional institutional investors at current market prices. This financing structure is often seen in early-stage biotech companies when conventional equity offerings prove challenging.</p><p>In simpler terms: The company is developing a copy of an existing approved medicine (like a generic version of Botox) which could be profitable, but needs more money now to complete their clinical trials. The way they’re raising money suggests they’re having to offer extra incentives to attract investors.</p>
IRVINE, Calif., Jan. 03, 2025 (GLOBE NEWSWIRE) — AEON Biopharma, Inc. (“AEON” or the “Company”) (NYSE: AEON), a clinical-stage biopharmaceutical company focused on developing a botulinum toxin complex under a 351(k) biosimilar pathway, today announced that it has commenced a public offering (the “Offering”) to offer and sell units, consisting of (i) shares of Common Stock (or pre-funded warrants in lieu thereof) and (ii) warrants to purchase shares of Common Stock.
In addition, the Company expects to grant Aegis Capital Corp. a 45-day option to purchase additional shares of Common Stock representing up to 15% of the total shares of Common Stock sold in the Offering solely to cover over-allotments, if any.
The Company intends to use the net proceeds from the Offering for general corporate and working capital needs.
The Company’s Common Stock is trading on NYSE American under the symbol “AEON”. The Offering is subject to market conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.
Aegis Capital Corp. is acting as the sole book-running manager for the Offering on a firm commitment basis. Sichenzia Ross Ference Carmel LLP is acting as counsel to the Company. Kaufman & Canoles, P.C. is acting as counsel to Aegis Capital Corp.
The Offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-281562) previously filed with the U.S. Securities and Exchange Commission (SEC) and declared effective by the SEC on August 21, 2024. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at syndicate@aegiscap.com, or by telephone at +1 (212) 813-1010. Before investing in this Offering, interested parties should read in their entirety the registration statement and the preliminary prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such registration statement and the preliminary prospectus, which provide more information about the Company and the Offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About AEON Biopharma
AEON is a clinical stage biopharmaceutical company focused on developing its proprietary botulinum toxin complex, ABP-450 (prabotulinumtoxinA) injection, or ABP-450, for debilitating medical conditions, with an initial focus on the neurosciences market. ABP-450 is the same botulinum toxin complex that is currently approved and marketed for cosmetic indications by Evolus under the name Jeuveau. ABP-450 is manufactured by Daewoong in compliance with current Good Manufacturing Practice, or cGMP, in a facility that has been approved by the U.S. Food and Drug Administration, Health Canada and European Medicines Agency. The product is approved as a biosimilar in Mexico and India. AEON has exclusive development and distribution rights for therapeutic indications of ABP-450 in the United States, Canada, the European Union, the United Kingdom, and certain other international territories. The Company has built a highly experienced management team with specific experience in biopharmaceutical and botulinum toxin development and commercialization. To learn more about AEON, visit www.aeonbiopharma.com.
Forward-Looking Statements
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the outcome of any legal proceedings that may be instituted against AEON or others; (ii) AEON’s future capital requirements; (iii) AEON’s ability to raise financing in the future; (iv) AEON’s ability to continue to meet continued stock exchange listing standards; (v) the possibility that AEON may be adversely affected by other economic, business, regulatory, and/or competitive factors; and (vi) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s filings with the Securities and Exchange Commission (the “SEC”), which are available on the SEC’s website at www.sec.gov.
Contacts
Investor Contact:
Corey Davis, Ph.D.
LifeSci Advisors
+1 212 915 2577
cdavis@lifesciadvisors.com
Source: AEON Biopharma
FAQ
What type of securities is AEON Biopharma offering in its January 2024 public offering?
AEON is offering units consisting of common stock (or pre-funded warrants) and warrants to purchase common stock.
How will AEON Biopharma use the proceeds from its 2024 public offering?
AEON intends to use the net proceeds from the offering for general corporate and working capital needs.
Who is the book-running manager for AEON’s 2024 public offering?
Aegis Capital Corp. is acting as the sole book-running manager for the offering on a firm commitment basis.
What is the over-allotment option in AEON’s 2024 public offering?
AEON granted Aegis Capital Corp. a 45-day option to purchase additional shares up to 15% of the total shares sold to cover over-allotments.
Under which SEC registration is AEON conducting its 2024 public offering?
The offering is being made under an effective shelf registration statement on Form S-3 (No. 333-281562), declared effective on August 21, 2024.
