ZyVersa Therapeutics Raises Over $2 Million in Public Offering

ZyVersa Therapeutics, Inc. (Nasdaq: ZVSA), a clinical stage specialty biopharmaceutical company committed to developing life-saving drugs for treatment of inflammatory and renal diseases, announced the launch of a new “reasonable best efforts” public offering of 12,727,273 shares of common stock (or pre-funded warrants in lieu thereof) and corresponding common warrants to the tune of $2.1 million in aggregate gross proceeds.

The accompanying warrants are valid for an exercise price of $0.165 per share and will remain valid for a period of five years from the initial issuance date. On the other hand, pre-funded warrants are immediately exercisable for one share of common stock at an exercise price of $0.0001, and do not expire until exercised. This public offering marks a compelling opportunity for investors to play a role in advancing the development of life-saving drugs.

The Company is pleased to announce the anticipated closing of its offering on July 26th, 2023, contingent upon the fulfillment of customary closing conditions. They plan to put the net proceeds from this offering towards working capital and other corporate purposes, as well as possibly redeeming the remainder of outstanding shares of their Series A preferred stock. Now is the time for a smart investor to make a long-term gain.

The Company recently completed an offering, and, as part of the offering, agreed to amend the terms of a purchaser’s April 2023 common stock purchase warrants. The amendment reduced the exercise price to the initial exercise price of the same type of warrants being sold in the offering, and extended the expiration date to match the expiration of the newly issued warrants. All other terms of the April 2023 warrants are unchanged.

About ZyVersa Therapeutics

ZyVersa (Nasdaq: ZVSA) is transforming the medical landscape with their innovative, first-in-class biopharmaceuticals. Their two proprietary technologies, Cholesterol Efflux Mediator™ VAR 200 for kidney diseases treatment and Inflammasome ASC Inhibitor IC 100, which targets damaging inflammation associated with many CNS and other diseases, are advancing through their clinical development pipeline. These drugs offer hope to patients who have been struggling to manage their renal and inflammatory diseases due to the significant unmet medical needs.

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