AEterna Zentaris Stalls on Secondary (AEZS)

Posted in pre-market 
April 16th, 2010

AEterna Zentaris Inc. (NASDAQ: AEZS) is killing the week’s gains after it announced that it has received commitments from institutional investors to purchase $15 million of securities in a registered direct offering for an aggregate of approximately 11.1 million common shares of its capital at a price of $1.35 per share.   The company will issue warrants to acquire an aggregate of approximately 4.4 million common shares at an exercise price of $1.50 per share.

At 8:51 AM EST this is down 18% at $1.35 on 967,000 shares.  The 52-week range is $0.75 to $3.25 and it trades 985,000 shares per day.

This stock was under $1.00 less than 5 days ago and shares were up over $1.70 this week.

JON C. OGG

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