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Vincerx Pharma Announces Completion of Public Warrant RedemptionPALO ALTO, Calif., May 06, 2021 (GLOBE NEWSWIRE) -- Vincerx Pharma, Inc. (Nasdaq: VINC) (the “Company”), today announced the completion of its redemption event with respect to its outstanding public warrants (the “Public Warrants”). The Company issued a press release on April 5, 2021, stating that it would redeem all of its outstanding Public Warrants to purchase shares of the Company’s common stock, $0.0001 par value per share (“Common Stock”), that were issued under the Warrant Agreement, dated as of March 5, 2020 (the “Warrant Agreement”), by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agent”), that remained outstanding and unexercised at 5:00 p.m. New York City time on May 5, 2021 (the “Redemption Date”) for a redemption price of $0.01 per Public Warrant (the “Redemption Price”). Of the 6,563,767 Public Warrants initially issued by the Company, 6,491,604 were exercised in aggregate, representing approximately 99% of the exercisable Public Warrants, with the remaining 72,163 unexercised Public Warrants redeemed by Vincerx. Total cash proceeds generated from warrant exercises were approximately $37.3 million. Total shares of Common Stock outstanding as of close of business on May 5, 2021, were 17,505,239. About Vincerx Pharma, Inc. Forward Looking Statements Actual results, conditions and events may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results, conditions and events to differ materially from those indicated in the forward-looking statements include, but are not limited to: general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of the COVID-19 pandemic; risks associated with preclinical or clinical development conducted prior to Vincerx’s in-licensing; failure to realize the anticipated benefits of the business combination with LifeSci Acquisition Corp.; failure to realize the benefits of the Bayer license; risks related to the rollout of Vincerx’s business and the timing of expected business milestones; changes in the assumptions underlying Vincerx’s expectations regarding its future business or business model; Vincerx’s ability to develop and commercialize product candidates; the availability and uses of capital; the effects of competition on Vincerx’s future business; and the risks and uncertainties set forth in reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC from time to time by Vincerx. Forward-looking statements speak only as of the date hereof, and Vincerx disclaims any obligation to update any forward-looking statements. Contact Information |