Iterum Therapeutics Announces Expiration And Results of Rights Offering; Estimates That It Will Receive Aggregate Gross Proceeds Of ~$7.4M, Not Including Estimated Expenses Relating To The Rights Offering And Payable By The Company Of $1.1M

Author: Benzinga Newsdesk | August 06, 2024 05:35pm

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 the subscription period of its previously announced rights offering (the "Rights Offering") expired at 5:00 p.m., Eastern Time, on August 6, 2024. As previously disclosed, the Company distributed, at no charge, subscription rights to the Company's shareholders and holders of warrants that had contractual rights to participate in the Rights Offering which were not waived (each, an "eligible warrant holder" and collectively, the "eligible warrant holders") as of 5:00 p.m., Eastern Time, on July 16, 2024 (the "Record Date").

Posted In: ITRM