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Iterum Therapeutics plc (NASDAQ:ITRM) (the "Company"), a clinical-stage pharmaceutical company focused on developing next generation oral and IV antibiotics to treat infections caused by multi-drug resistant pathogens in both community and hospital settings, today announced that it has commenced its previously disclosed rights offering (the "Rights Offering").
Pursuant to the Rights Offering, the Company is distributing, at no charge, subscription rights to the Company's shareholders and holders of warrants that have contractual rights to participate in the Rights Offering which have not been waived (each, an "eligible warrant" and collectively, the "eligible warrants") as of 5:00 p.m., Eastern Time, on July 16, 2024 (the "Record Date"), non-transferable subscription rights to purchase an aggregate of 8,503,800 units ("Units") at a subscription price of $1.21 per whole unit. As of July 19, 2024, one holder of eligible warrants to purchase 56,606 ordinary shares, nominal value $0.01 per share (the "ordinary shares") had waived their contractual right to participate in the Rights Offering.
Posted In: ITRM
