Auris Medical Announces Closing of Public Offering of Common Shares

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Hamilton, Bermuda, May 15, 2019 (GLOBE NEWSWIRE) -- Auris Medical Holding Ltd. (NASDAQ: EARS), a clinical-stage company dedicated to developing therapeutics that address important unmet medical needs in neurotology and central nervous system disorders, announced today the closing of its previously announced underwritten public offering of: (i) 440,000 common shares together with warrants to purchase 440,000 common shares, and (ii) 1,721,280 pre-funded warrants, with each pre-funded warrant exercisable for one common share, together with warrants to purchase 1,721,280 common shares, including 110,000 common shares and warrants to purchase 110,000 common shares sold pursuant to a partial exercise by the underwriters of the underwriters’ over-allotment option. The combined public offering price per unit of one common share and one warrant to purchase one common share is $3.90 and $3.89 per unit of one pre-funded warrant to purchase one common share and one warrant to purchase one common share. The aggregate gross proceeds to Auris Medical Holding Ltd. from the offering, before deducting the underwriting discount and commissions and offering expenses, were approximately $8.4 million.

A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering.

The shares were issued pursuant to a registration statement previously filed with the Securities and Exchange Commission (the “SEC”) and became effective on May 10, 2019 and is available on the SEC's website located at http://www.sec.gov. An additional registration statement on Form F-1 (File No. 333-231403) relating to these securities has been filed with the SEC and became effective immediately upon filing under Rule 462(b) under the Securities Act of 1933, as amended. A copy of the final prospectus relating to the offering, when available, may be obtained by contacting A.G.P./Alliance Global Partners, 590 Madison Avenue, 36th Floor, New York, NY 10022 or via telephone at 212-624-2006 or email: prospectus@allianceg.com.

This press release shall not constitute an offer to sell or the 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 laws of any such state or jurisdiction.  

Auris Medical is a biopharmaceutical company dedicated to developing therapeutics that address important unmet medical needs in neurotology and mental health supportive care. The company is focused on the development of intranasal betahistine for the treatment of vertigo (AM-125) and for the prevention of antipsychotic-induced weight gain and somnolence (AM-201). These projects have gone through two Phase 1 trials and will move into proof-of-concept studies in 2019. In addition Auris Medical has two Phase 3 programs under development: Sonsuvi (AM-111) for acute inner ear hearing loss and Keyzilen (AM-101) for acute inner ear tinnitus. The Company was founded in 2003 and is headquartered in Hamilton, Bermuda with its main operations in Basel, Switzerland. The shares of Auris Medical Holding Ltd. trade on the NASDAQ Capital Market under the symbol “EARS.”

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Globe Newswire: 21:15 GMT Wednesday 15th May 2019

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