SCYNEXIS entered into a Securities Purchase Agreement with certain new and existing institutional and accredited investors for a private placement. The company will issue an aggregate of 34,750,000 shares of common stock and pre-funded warrants to purchase up to 8,750,000 shares of common stock. Accompanying common warrants to purchase up to an aggregate of 43,500,000 shares of common stock or pre-funded warrants will also be issued. Common shares and accompanying common warrants were sold at a combined price of $0.92 per unit. Pre-funded warrants and accompanying common warrants were sold at a combined price of $0.9199 per unit. The aggregate share issuance includes 108,695 common shares and accompanying common warrants sold to the company's President and Chief Executive Officer, Dr. David Angulo. Each pre-funded warrant has an initial exercise price of $0.0001 per share and is immediately exercisable. Each common warrant is exercisable for one share (or pre-funded warrant) at an exercise price of $1.20 per share, exercisable upon stockholder approval, and expires on the earlier of its fifth anniversary or 30 days after public release of topline data from the Phase 2 SCY-770 study. The private placement is expected to close on or about April 1, 2026, subject to customary closing conditions. Gross proceeds from the private placement are estimated at approximately $40.0 million, before deducting placement agent fees and transaction-related expenses. Up to an additional $52.2 million in gross proceeds could be realized if the common warrants are fully exercised for cash, subject to stockholder approval. The company intends to use the net proceeds for working capital and general corporate purposes. Existing cash, cash equivalents, marketable securities, and anticipated net proceeds from this private placement (excluding potential common warrant exercise proceeds) are estimated to fund operations into mid-2029. Guggenheim Securities, LLC acted as the sole placement agent for the private placement. The company has agreed to convene a stockholder meeting no later than 90 days following the closing to seek approval for an increase in its authorized shares of common stock.