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Outlook Therapeutics Closes Final Tranche of $20 Million Private PlacementCRANBURY, N.J., Feb. 01, 2019 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc. (Nasdaq: OTLK) (the “Company”) today announced that it closed on the final tranche (of four) of its $20.0 million private placement of common stock to BioLexis Pte. Limited (BioLexis), the Company’s strategic business partner and largest investor, receiving $4.0 million of cash proceeds in exchange for the issuance of 4,288,624 shares of common stock at $0.9327 per share. The Company has now received the full $20.0 million from the sale of its common stock to BioLexis under this private placement, which was previously announced on November 6, 2018. The Company intends to use the net proceeds from the private placement primarily for clinical trials for its lead product candidate, ONS-5010, and for working capital and general corporate purposes, including agreed repayments on its senior secured notes. This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities aws of any such state or jurisdiction. About BioLexis Pte. Limited About Outlook Therapeutics, Inc. CONTACTS: Media & Investors: |