Therapix Biosciences Announces Pricing of $1.25 Million Public Offering

TEL AVIV, Israel, April 1, 2020 /PRNewswire/ -- Therapix Biosciences Ltd. ("Therapix" or the "Company") (Nasdaq: TRPX), a specialty, clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments, today announced the pricing of a public offering for the issuance of an aggregate of 4,166,668 units, each consisting of (i) one pre-funded warrant to purchase one American depositary share ("ADS") and (ii) one Series B warrant to purchase one ADS, at a purchase price of $0.2999 per unit. The Series B warrants will have an exercise price of $0.43 per ADS, will be exercisable upon issuance and will expire five years from the date of issuance.

The offering is expected to result in gross proceeds to Therapix of approximately $1.25 million. Therapix intends to use the net proceeds from the offering for working capital and general corporate purposes, and pursuing strategic opportunities, including business combination transactions.

The closing of the sale of the securities is expected to take place on April 3, 2020, subject to satisfaction of customary closing conditions.

Roth Capital Partners is acting as the sole agent for the offering on a "best efforts" basis.

The securities described above were offered pursuant to a registration statement on Form F-1 (File No. 333-236175), which was declared effective by the United States Securities and Exchange Commission ("SEC") on March 31, 2020. A preliminary prospectus relating to the securities being offered was filed with the SEC on March 31, 2020 and is available on the SEC's website at http://www.sec.gov. Electronic copies of the final prospectus relating to the offering may be obtained, when available, by contacting Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or at the SEC's website at http://www.sec.gov.

This press release shall 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 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.

About Therapix Biosciences (Nasdaq: TRPX):

Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. Our focus is creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the company is currently engaged in the following drug development programs based on tetrahydrocannabinol (THC) and/or non-psychoactive cannabidiol (CBD): THX-110 for the treatment of Tourette syndrome and for the treatment of obstructive sleep apnea; THX-160 for the treatment of pain; and THX-210 for the treatment of autism spectrum disorder and epilepsy. Please visit our website for more information at www.therapixbio.com, the content of which is not a part of this press release.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Forward-looking statements in this press release include statements regarding the proposed offering, the successful closing of the offering and planned use of the net proceeds from the offering. Because such statements deal with future events and are based on Therapix's current expectations, they are subject to various risks and uncertainties, including the satisfaction of closing conditions, and actual results, performance or achievements of Therapix could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Therapix's registration statement on Form F-1 filed with the SEC on March 31, 2020. Except as otherwise required by law, Therapix disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.

Investor Contact:
Oz Adler, CFO
[email protected]
Tel: +972-3-6167055
[email protected]

SOURCE Therapix Biosciences Ltd.