The biotech firm raised $9.0M through 8% convertible debentures and warrants, netting $8.2M for operations.
Expion announced it closed a $9.0M private placement of 8% convertible debentures and warrants, receiving approximately $8.2M in net proceeds. The offering includes warrants for up to 2.12M shares at an exercise price of $4.25 per share.
The company did not disclose prior funding rounds or consensus expectations for this raise. The proceeds are expected to support ongoing operations and development initiatives.
No immediate market reaction was reported following the announcement.