Aeon Biopharma has reduced the exercise prices of its outstanding two-year milestone warrants and expects to receive approximately $6.2 million in gross proceeds from exercises by certain holders. The amendment took effect on November 2, according to a press release statement included in a recent SEC filing.
The exercise price for warrants covering Class A common stock was lowered from $0.3221 to $0.20 per share. The price for pre-funded warrants fell from $0.3220 to $0.1999. Holders representing at least 67% of the shares issuable under the warrants agreed to the amendment, which applies to all outstanding warrants of this type, including those held by investors who did not consent.
The number of shares issuable and the other warrant terms remain unchanged. Following an earlier disclosed FDA meeting, the warrants are set to expire on November 16, 2026. Holders can exercise them before that date under the procedures in the warrant agreement.
Aeon reported 71,517,020 common shares outstanding as of October 30, 2026. The company said the expected proceeds would come from warrant exercises at the amended prices.
Sources: Investing.com News.