JERSEY CITY, N.J., June 21, 2016 (GLOBE NEWSWIRE) -- SCYNEXIS, Inc. (Nasdaq:SCYX) today announced the pricing of its underwritten public offering of 9,375,000 shares of its common stock and warrants to purchase 4,218,750 shares of its common stock. The shares and warrants are being sold at a public offering price of $2.40 per share sold in the offering, before underwriting discounts and commissions. The gross offering proceeds to SCYNEXIS from this offering are expected to be approximately $22.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses, and excluding the exercise of any warrants. All of the shares of common stock and warrants are being offered by SCYNEXIS. In addition, SCYNEXIS has granted the underwriters a 30-day option to purchase up to an additional 1,406,250 shares of common stock and warrants to purchase up to 632,812 shares of common stock at the public offering price less the underwriting discounts and commissions solely to cover over-allotments, if any.

The shares of common stock and warrants will be issued separately. The warrants are exercisable immediately upon issuance, have a five-year term and an exercise price of $3.00 per share. The warrants will be certificated, and will be delivered to the investors by physical delivery following the closing. There is no established public trading market for the warrants and SCYNEXIS does not expect a market to develop.

Guggenheim Securities, LLC is acting as the sole book-running manager. Canaccord Genuity Inc. and Needham & Company, LLC are acting as co-lead managers and Brean Capital, LLC is acting as co-manager.

About SCYNEXIS

SCYNEXIS is a pharmaceutical company committed to the development and commercialization of novel anti-infectives to address significant unmet therapeutic needs. SCYNEXIS is developing its lead product candidate, SCY-078, as an oral and IV drug for the treatment of several fungal infections, including serious and life-threatening invasive fungal infections.