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Innovus Pharmaceuticals Announces $3.85 Million Public Offering

SAN DIEGO--(BUSINESS WIRE)--

Innovus Pharmaceuticals, Inc. ("Innovus Pharma") (OTCQB Venture Market: INNV), today announced the pricing of a public offering of 25,666,669 shares of common stock, one-year warrants to purchase up to 25,666,669 shares of common stock and five-year warrants to purchase up to 25,666,669 shares of common stock, with expected total gross proceeds of approximately $3.85 million.

The offering was priced at $0.15 per share of common stock, with each share of common stock sold with one one-year warrant to purchase a share of common stock, at an exercise price of $0.15 per share, and one five-year warrant to purchase common stock, at an exercise price of $0.15 per share. The offering is expected to close on or about March 21, 2017, subject to satisfaction of customary closing conditions.

Rodman & Renshaw, a unit of H.C. Wainwright & Co., is acting as exclusive placement agent in connection with this offering.

The estimated net proceeds to the Company are expected to be approximately $3.3 million, excluding the proceeds, if any, from the exercise of the warrants. Innovus intends to use the net proceeds from this offering primarily for the commercial launch of FlutiCare™, if approved by the FDA, working capital and general corporate purposes, including sales and marketing activities, product development, capital expenditures, the repayment of certain debt of the Company and product acquisitions and product licenses.

The securities are being offered pursuant to a registration statement on Form S-1 (File No. 333-215851) previously filed with the Securities and Exchange Commission (the "SEC") and declared effective on March 15, 2017. The securities may be offered only by means of a prospectus. The preliminary prospectuses related to the offering have been filed with the SEC and final prospectus related to the offering will be filed with the SEC on or about March 16, 2017. Copies of the final prospectuses, when available, may be obtained at the SEC's website located at http://www.sec.gov, and may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 4th Floor, New York, NY 10022, by calling (646) 975-6957 or emailing placements@hcwco.com.

This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities. There shall not be any offer, solicitation of an offer to buy, or sale of securities in any state or jurisdiction in which such an offering, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Innovus Pharmaceuticals, Inc.

Headquartered in San Diego, Innovus Pharma is an emerging over-the-counter (“OTC”) consumer goods and specialty pharmaceutical company engaged in the commercialization, licensing and development of safe and effective non-prescription medicine and consumer care products to improve men’s and women’s health and vitality and respiratory diseases. Innovus Pharma delivers innovative and uniquely presented and packaged health solutions through its (a) OTC medicines and consumer and health products, which we market directly, (b) commercial partners to primary care physicians, urologists, gynecologists and therapists, and (c) directly to consumers through our on-line channels, retailers and wholesalers. The Company is dedicated to being a leader in developing and marketing new OTC and branded Abbreviated New Drug Application (“ANDA”) products. The Company is actively pursuing opportunities where existing prescription drugs have recently, or are expected to, change from prescription (or Rx) to OTC.

Cautionary Statement on Forward-Looking Statements:

Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, but not limited to, the amount and use of proceeds the Company expects to receive from the sale of the securities offered, market conditions, and the closing of the transaction described in this press release, which is subject to customary conditions. Forward-looking statements can be identified by the use of words such as "may," "will," "expect," "anticipate," "estimate," "continue," or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading "Forward-Looking Statements" and "Risk Factors" in the Company's Annual Report on Form 10-K, dated March 9, 2017. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.

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