Azitra Inc. Enters into Placement Agency Agreement with Maxim Group LLC

On February 4, 2025, Azitra, Inc. (NYSEAMERICAN:AZTR) finalized a Placement Agency Agreement with Maxim Group LLC to facilitate a financial endeavor involving the offer and sale of shares of the company’s common stock. Under the terms of the agreement, Azitra issued 2,495,518 shares of common stock, generating total proceeds of roughly $695,001, after adjusting for placement agent fees and related expenses. The transaction, commonly referred to as the Offering, was completed on February 6, 2025.

The shares made available by Azitra were in accordance with a shelf registration statement on Form S-3 (File No. 333-280648) declared effective by the Securities and Exchange Commission on July 8, 2024. Participation in the Offering was detailed in a prospectus supplement dated February 4, 2025.

Maxim Group LLC acted as the exclusive placement agent for the Offering. As per the terms of the Placement Agency Agreement, Azitra agreed to compensate the Placement Agent up to 7.0% of the overall gross proceeds raised during the Offering and to cover certain expenses incurred by the Placement Agent.

Additionally, Azitra and the investors entered into a Purchase Agreement outlining standard representations, warranties, and obligations of both parties. Notably, post the Offering’s conclusion on February 6, 2025, and for a defined period, Azitra is restricted from issuing any additional shares of common stock or similar instruments without adhering to specific conditions specified in the Purchase Agreement.

Exhibits 10.1 and 10.2 to the Form 8-K filing contain the full text of the Placement Agency Agreement and the form of Amended and Restated Securities Purchase Agreement, respectively. It is advised to refer to these exhibits for a comprehensive understanding of the terms agreed upon between Azitra and Maxim Group LLC.

In conjunction with this activity, Azitra issued a press release on February 4, 2025, disclosing the pricing details associated with the Offering. The press release, attached as Exhibit 99.1 to the Form 8-K filing, provides a more detailed account of the financial arrangement.

Azitra, Inc., a clinical-stage biopharmaceutical entity concentrating on progressive dermatological therapies, had triggered a registered direct offering of common stock valued at approximately $930.0 thousand. The Offering encompassed the acquisition of 3,339,300 shares of common stock at a unit price of $0.2785 per share. The proceeds are set to be allocated toward operational activities and general corporate purposes.

For more in-depth insights into Azitra, Inc.’s operations and ongoing clinical endeavors, additional information can be found on their corporate website.

It’s essential to note that the foregoing information is intended to serve as a factual overview derived directly from the 8-K SEC Filing submitted by Azitra, Inc.

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.