--- title: "AEON Biopharma prices $20.0 million offering of units at $0.50 each" url: "https://aibio.space/news/aeon-biopharma-prices-20-0-million-offering-units-0-50-each/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-01-06" section: "Financings" tickers: "AMEX:AEON" source: "https://www.sec.gov/Archives/edgar/data/1837607/000110465925000991/tm2432042-1_424b5.htm" summary: "AEON Biopharma priced 40,000,000 units at $0.50 each for about $20.0 million gross, with Aegis Capital Corp. as sole book-running manager. Each unit carrie" --- By the aibio.space news desk. Sources - [AEON Biopharma, Inc. 424B5 (2025-01-06)](https://www.sec.gov/Archives/edgar/data/1837607/000110465925000991/tm2432042-1_424b5.htm) - [tm2432042-3_424b5.htm](https://www.sec.gov/Archives/edgar/data/1837607/000110465925001515/tm2432042-3_424b5.htm) - [tm2432042d4_ex99-1.htm](https://www.sec.gov/Archives/edgar/data/1837607/000110465925001665/tm2432042d4_ex99-1.htm) [AEON](https://aibio.space/companies/aeon-biopharma/) 2025-01-06 # AEON Biopharma prices $20.0 million offering of units at $0.50 each Tickers [AEON](https://aibio.space/companies/aeon-biopharma/) AEON Biopharma priced 40,000,000 units at $0.50 each for about $20.0 million gross, with Aegis Capital Corp. as sole book-running manager. Each unit carries two warrants that cannot be exercised until stockholders approve them, and their exercise price can reset lower. ## Key facts - **Company**: AEON Biopharma, Inc. (AMEX: AEON) - **News type**: Financings - **Primary source**: [AEON Biopharma, Inc. 424B5 (2025-01-06)](https://www.sec.gov/Archives/edgar/data/1837607/000110465925000991/tm2432042-1_424b5.htm) *Midtown Manhattan and a downtown tower in haze. CC0, via rawpixel. The picture shows the field, not the companies named.* ## The offering AEON Biopharma, Inc. (NYSE American: [AEON](https://aibio.space/companies/aeon-biopharma/)) said on January 6, 2025 that it had priced a firm-commitment underwritten public offering of 40,000,000 units at $0.50 per unit. The press release gives expected gross proceeds of about $20.0 million, before underwriting fees and offering expenses. Each unit holds one share of common stock, one Series A warrant and one Series B warrant. Both warrants have an initial exercise price of $0.625 per share. Pre-funded units were priced at $0.4999 each. The Series A warrants expire five years after stockholder approval, and the Series B warrants two and one-half years after it. Closing was expected on or about January 7, 2025. ## The banks and advisers Aegis Capital Corp. is the exclusive underwriter, on a firm-commitment basis, and the sole book-running manager. Its underwriting discount is 7.0% of amounts raised up to $15.0 million and 9.0% of amounts above that. AEON will also reimburse $75,000 of the underwriter's legal fees. Aegis holds a 45-day option to buy additional shares and warrants, up to 15.0% of the shares and of the Series A and Series B warrants sold. Sichenzia Ross Ference Carmel LLP is counsel to AEON, and Kaufman & Canoles, P.C. is counsel to Aegis. ## The warrant terms The warrants cannot be exercised until AEON files a Form 8-K giving notice of stockholder approval, as NYSE American rules require. If that approval is not obtained, the prospectus says the warrants "will not be exercisable and therefore the Warrants may have substantially less value." The warrants also reset. On the 11th trading day after approval, the exercise price drops to the lower of the price then in effect and the lowest daily volume-weighted average price over a 10-trading-day reset period, subject to a floor. The floor is $0.281 before approval and $0.112 after it. As the exercise price falls, the number of shares under each warrant rises so that the total exercise price stays the same. The Series A warrants also adjust if AEON issues stock below their exercise price, subject to exceptions. ## The price and the proceeds The NYSE American closing price on January 3, 2025 was $0.569, above the $0.50 unit price. The final prospectus supplement's table shows underwriter discounts of $1,050,000 and $450,000 and proceeds before expenses of $18,400,000, while its use-of-proceeds section estimates net proceeds of approximately $18,350,000. The press release gives about $20.0 million gross. AEON plans to use the money for working capital and general corporate purposes, including repayment of outstanding senior notes. The supplement does not give the balance of those notes. ## The company and its drug AEON is a clinical-stage biopharmaceutical company developing ABP-450, a botulinum toxin complex, for debilitating medical conditions, with an initial focus on neurosciences. The prospectus says ABP-450 is the same toxin as Jeuveau, which Evolus markets for cosmetic uses, and that the product is approved as a biosimilar in Mexico and India. The supplement describes no U.S. approval and no trial results for ABP-450. ## The funding claim Marc Forth, AEON's president and chief executive, said the capital raised "is sufficient to fund operations through 2025." The documents give no cash balance, net loss or quarterly burn rate, so that claim cannot be tested against the company's spending. The audit report on the 2023 financial statements, by KPMG LLP, carried a going-concern paragraph citing recurring losses, a net capital deficiency and negative operating cash flows, and an Ernst & Young report on 2022 carried a similar paragraph. ## Listing and lock-ups The prospectus warns that failing the continued listing standards of NYSE American could lead to delisting, leaving investors able to trade only on the OTC Markets Pink market and subject to penny stock rules. Directors, executive officers, employees and holders of at least 10% of the common stock sign lock-up agreements with the underwriter for 90 days. The supplement's cover pages do not state the share count before the offering, so the dilution from the new shares and warrant shares cannot be measured from them. Closing was expected on or about January 7, 2025. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story AEON AEON Biopharma, Inc. AMEX ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/aeon-biopharma-prices-20-0-million-offering-units-0-50-each/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "AEON Biopharma prices $20.0 million offering of units at $0.50 each", 2025-01-06, https://aibio.space/news/aeon-biopharma-prices-20-0-million-offering-units-0-50-each/