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Astria Therapeutics Announces Pricing of $64 Million Underwritten Offering

Astria Therapeutics Announces Pricing of $64 Million Underwritten Offering

Astria Therapeutics, Inc., a biopharmaceutical company focused on developing life-changing therapies for allergic and immunological diseases, today announced the pricing of an underwritten offering of (i) 8,253,895 shares of its common stock and accompanying common stock warrants to purchase an aggregate of 6,190,418 shares of common stock, and (ii) to certain investors in lieu of common stock who so choose, pre-funded warrants to purchase up to an aggregate of 1,571,093 shares of common stock and accompanying common stock warrants to purchase up to an aggregate of 1,178,320 shares of common stock. Each share of common stock and accompanying common stock warrant are being sold together at a combined public offering price of $6.514, and each pre-funded warrant and accompanying common stock warrant are being sold together at a combined public offering price of $6.513. The aggregate gross proceeds of the offering are expected to be approximately $64 million, before deducting underwriting discounts and commissions and other estimated offering expenses. Each pre-funded warrant will have an exercise price of $0.001 per share, will be exercisable immediately and will be exercisable until all of the pre-funded warrants are exercised in full. Each common stock warrant will have an exercise price of $8.025 per share, will be exercisable immediately and will expire 5 years from the date of issuance.

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All of the securities are being offered by Astria. The offering is expected to close on or about October 16, 2023, subject to satisfaction of customary closing conditions.

Jefferies and Evercore ISI are acting as joint book-running managers for the offering. LifeSci Capital and Oppenheimer & Co. are acting as co-lead managers.

The securities described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-271848), which was declared effective by the Securities and Exchange Commission (the “SEC”) on May 23, 2023. The offering is being made only by means of a prospectus supplement and the accompanying prospectus. A final prospectus supplement relating to the offering will be filed with the SEC and will be available at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus may be obtained for free by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, or by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

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