Lexaria Bioscience Corp. (NASDAQ: LEXX) announced on September 7, 2026, that it entered into inducement offer letter agreements with holders of existing common stock purchase warrants. Under these agreements, the holders immediately exercised their warrants to purchase an aggregate of 453,969 shares of common stock at a reduced exercise price of $12.92 per share. The gross proceeds to the Company from this exercise are expected to be approximately $5.9 million prior to deducting placement agent fees and offering expenses.
The Company agreed to issue new unregistered Series A and Series B warrants in exchange for the cash exercise of the existing warrants. Both Series A and Series B warrants allow the purchase of up to 453,969 shares of common stock at an exercise price of $12.67 per share. The Series A Warrants will be exercisable immediately and have a term of five years from the Effective Date. The Series B Warrants will also be immediately exercisable but will have a term of eighteen months from the Effective Date.
H.C. Wainwright & Co., LLC served as the exclusive placement agent for the transaction and will receive a fee equal to 7% of the aggregate gross proceeds. The Company also issued warrants to the Placement Agent or its designees to purchase up to 15,889 shares of common stock at an exercise price of $16.15 per share.
The closing of the transactions is scheduled for September 9, 2026, subject to customary closing conditions. The Company expects to use the net proceeds from the transaction for working capital and general corporate purposes. The Company has agreed to file a registration statement with the SEC within 30 calendar days to provide for the resale of the common stock issuable upon the exercise of the New Warrants.
