On September 20, 2019 Aeterna Zentaris Inc. (“Aeterna”) announced that it had entered into a securities purchase agreement with institutional investors in the United States to purchase approximately $5.0 million of its common shares in a registered direct offering and warrants to purchase common shares in a concurrent private placement (together, the “Offering”). Maxim Group LLC (“Maxim”) is acting as sole placement agent in connection with the Offering.

The combined purchase price for one common share and one warrant will be $1.50. In the concurrent private placement, Aeterna has agreed to issue warrants to purchase up to an aggregate of 3,325,000 common shares. The warrants will be exercisable for a period of 5 years commencing six months from the date of issuance and have an exercise price of $1.65 per share.

Aeterna is a specialty biopharmaceutical company engaged in commercializing novel pharmaceutical therapies, principally through out-licensing arrangements.

Dennis Peterson acted as Canadian Counsel for Maxim Group LLC.