Repros Prices $3.0 Million Public Offering Of Common Stock

5/18/17

THE WOODLANDS, Texas, May 18, 2017 (GLOBE NEWSWIRE) -- Repros Therapeutics Inc (Nasdaq:RPRX), announced today that it has entered into an underwriting agreement to sell in a public offering 2,744,125 shares of the Company’s common stock and pre-funded Series C warrants to purchase 2,245,875 shares of Common Stock, which will be offered in lieu of Common Stock to those purchasers whose purchase of Common Stock in the offering otherwise would result in the purchaser beneficially owning more than 4.99% of the Company’s outstanding common stock following the completion of the offering. Also included in the offering are Series A warrants to purchase 3,742,500 shares of Common Stock (the “Series A Warrants”) and Series B warrants to purchase 2,495,000 shares of Common Stock (the “Series B Warrants”) and, together with the Series A Warrants and the Pre-Funded Warrants, the “Warrants”. There is no established public trading market for the Warrants and the Company does not expect a market to develop in the future.

Every share of Common Stock will be sold with one Series A Warrant to purchase 0.75 share of Common Stock and one Series B Warrant to purchase 0.5 share of Common Stock at a combined price of $0.60. Every Pre-Funded Warrant will be sold with one Series A Warrant to purchase 0.75 share of Common Stock and one Series B Warrant to purchase 0.5 share of Common Stock at a combined price of $0.60. The shares of Common Stock or Pre-Funded Warrant, as applicable, and the Series A Warrants and Series B Warrants are immediately separable and will be issued separately, but will be purchased together.

Each Series A Warrant will have an initial exercise price of $0.84 per share of Common Stock, will be exercisable beginning on the issuance date and will expire five years after the first day they are exercisable. Each Series B Warrant will have an initial exercise price of $0.92 per share of Common Stock, will be exercisable beginning on the issuance date and will expire two years after the first day they are exercisable. Each Pre-Funded Warrant will have a nominal exercise price of $0.001 per share of Common Stock, will be exercisable upon issuance and will expire two years after the first day they are exercisable.

The gross proceeds to the Company from the offering are expected to be approximately $3.0 million, and the net proceeds to the Company from the offering, after deducting the underwriting discount and commissions and other estimated offering expenses, are expected to be approximately $2.5 million. The Company intends to use the proceeds from the offering to fund general corporate purposes. The offering is expected to close on or about May 23, 2017, subject to the satisfaction of customary closing conditions.

Laidlaw & Company (UK) Ltd. is the sole book-running manager for the offering.

About Repros Therapeutics Inc.®

Repros Therapeutics focuses on the development of small molecule drugs for major unmet medical needs that treat male and female reproductive disorders.

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