UPDATE: Lexaria Bioscience Announces $3.5M Registered Direct Offering Of 2,661,600 Shares At A Price Of $1.315/Share

Lexaria Bioscience Corp. (NASDAQ:LEXX)(LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, today announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 2,661,600 shares of its common stock, par value $0.001 per share, at a purchase price of $1.315 per share in a registered direct offering priced at-the-market under Nasdaq rules. In addition, in a concurrent private placement, the Company will issue unregistered warrants to purchase up to 2,661,600 shares of common stock. The warrants will have an exercise price of $1.19 per share, will be immediately exercisable and will expire five years from the date of the effectiveness of the resale registration statement registering the shares of common stock issuable upon exercise of the unregistered warrants. The closing of the offering is expected to occur on or about December 16, 2025, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The aggregate gross proceeds to the Company from the offering are expected to be approximately $3.5 million, before deducting the placement agent fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering to advance its research and development efforts, fund working capital and for other general corporate purposes.