Outlook Therapeutics Reports Closing of $5.0 Million Registered Direct Offering

ISELIN, N.J.—Outlook Therapeutics, Inc. (Nasdaq: OTLK), a biopharmaceutical company focused on enhancing the standard of care for bevacizumab for the treatment of retina diseases, has announced the closing of a registered direct offering of 16,129,033 shares of common stock at $0.31 per share. Concurrently, in a private placement, the company issued unregistered warrants to purchase an equal number of shares at the same exercise price. According to the announcement, the unregistered warrants will become exercisable on the later of the date of stockholder approval of the issuance of the shares underlying the warrants and the effective date of an amendment to the company’s certificate of incorporation to increase the authorized shares of the company and will expire five years following the later of the date the unregistered warrants are first exercisable and the effective date of the registration statement registering the resale of the shares of common stock issuable upon exercise of the unregistered warrants.