Lowenstein Sandler represented clinical-stage biotechnology company Relmada Therapeutics (Nasdaq: RLMD) in its underwritten offering of 40,142,000 shares of its common stock at $2.20 per share for gross proceeds of approximately $100 million. Relmada also offered certain investors pre-funded warrants to purchase up to 5,315,000 shares of common stock.
Relmada intends to use the proceeds for working capital and general corporate purposes, including clinical studies, systems for regulatory approvals, product development, and investment in complementary technologies or companies.
Jefferies and Leerink Partners are acting as joint book-running managers for the offering. Mizuho is acting as book-runner for the offering.
The Lowenstein deal team includes Steven M. Skolnick, James C. Shehan, Tracy F. Buffer, Nathaniel A. Perle, Victoria Jin, and Rachel McDonald.