Xeris Biopharma Holdings, Inc. announced that it has entered into securities purchase agreement for private placement of 10,238,908 common shares at a price of $2.93 per share for gross proceeds of $30,000,000 on January 2, 2022. The company will also issue warrants to purchase 5,119,454 common shares at an exercise price of $3.223 per share. The transaction will include participation from Armistice Capital Master Fund Ltd., a fund managed by Armistice Capital LLC.

The warrants will be exercisable on their issuance date and for five years from the earliest date of (a) of effectiveness of the resale registration statement (as defined below), (b) all of the shares and warrant Shares (as defined below) have been sold pursuant to Rule 144 or may be sold pursuant to Rule 144 without the requirement for the company. The transaction is expected to close on or around January 3, 2022, subject to customary closing conditions. The securities issued are pursuant to exemption provided under Regulation D.