SCYNEXIS, Inc. (NASDAQ: SCYX), a biotechnology company focused on developing innovative therapies for severe rare diseases, has announced a significant private placement agreement. On March 30, 2026, the company entered into a Securities Purchase Agreement with institutional and accredited investors, which is expected to yield approximately $40 million in gross proceeds before deducting fees and expenses. The private placement involves the issuance of 34,750,000 shares of common stock and pre-funded warrants to purchase an additional 8,750,000 shares, along with accompanying common warrants for a total of 43,500,000 shares. The shares and warrants were sold at a combined price of $0.92 per share and $0.9199 per pre-funded warrant. Notably, the company’s President and CEO, Dr. David Angulo, participated in the offering, purchasing 108,695 shares. The private placement is anticipated to close on or about April 1, 2026, subject to customary closing conditions. The funds raised will be utilized for working capital and general corporate purposes, with the company estimating that its existing cash, along with the anticipated proceeds, will be sufficient to fund operations into mid-2029. Guggenheim Securities, LLC is acting as the sole placement agent for this transaction. The company has also committed to convening a stockholder meeting within 90 days following the closing to seek approval for an increase in its authorized shares, which is necessary for the exercise of the warrants. This strategic move is expected to bolster SCYNEXIS's financial position and support its ongoing clinical development efforts, particularly for its lead product candidate, SCY-770, aimed at treating Autosomal Dominant Polycystic Kidney Disease (ADPKD).

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