Azitra (NYSEAMERICAN: AZTR) Closes Offering and Enters Into Agreement with Investors

Azitra, Inc., a Delaware corporation, announced the closing of an offering of 2,495,518 shares of its Common Stock to specific investors on February 6, 2025. The offering, as per the Securities Purchase Agreement dated February 4, 2025, was amended on February 5, 2025. Additionally, in connection with the amendment to the agreement, Azitra, Inc. and the investors sealed a Letter Agreement on February 6, 2025.

The Letter Agreement entails Azitra, Inc.’s commitment to issue warrants to the investors allowing them to acquire up to 2,245,967 shares of Common Stock. Moreover, the investors hold the right, for a period of two years from the Agreement’s closure, to partake in the company’s future financial offerings up to 50% of their value.

Additionally, in adherence to the Letter Agreement’s terms, Azitra, Inc. is obligated to file a registration statement covering the issuance of the Common Stock shares underlying the warrants. The company must exert its best efforts to ensure the registration statement becomes effective within six months from the Agreement’s closure. The Warrants can be exercised starting at the six-month and one day anniversary from their issuance and their exercise price is determined based on NYSE American Rules.

The forms of the Letter Agreement and the Warrant are submitted as Exhibits 10.1 and 4.1, respectively, to the Current Report on Form 8-K. The specifics of the terms of the Letter Agreement and the Warrants are fully detailed in the exhibits.

The Warrants and the Common Stock shares available upon the exercise of the Warrants have not undergone registration under the Securities Act of 1933 or any state securities laws. They are being offered and sold in compliance with the exemption from registration under the Securities Act provided by Section 4(a)(2) under the Act or Regulation D.

The necessary information about the Warrants and the Common Stock shares they represent is included in Item 1.01 and further referenced in Item 3.02 of the filing.

Moreover, the company furnished the required financial statements and exhibits along with this disclosure, as stated in Item 9.01 of the report. The list of exhibits includes the Form of Letter Agreement, Form of Warrant, and the Cover Page Interactive Data File.

The Current Report on Form 8-K was signed on behalf of Azitra, Inc. by Francisco D. Salva, the Chief Executive Officer, on February 6, 2025.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Azitra’s 8K filing here.

Azitra Company Profile

Azitra, Inc, an early-stage biopharmaceutical company, develops therapies for precision dermatology using engineered proteins and live biotherapeutic products to treat skin diseases. It develops ATR-12, a genetically modified strain of S. epidermidis, which is in Phase Ib clinical trial for treating Netherton syndrome, a skin disease.