Synthetic Biologics prices underwritten public offering of common stock at $1.00 per share

Synthetic Biologics, Inc. (NYSE MKT: SYN), a developer of product candidates focused on the prevention and treatment of serious infectious and other diseases, announced today the pricing of an underwritten public offering of 11,500,000 shares of common stock at a public offering price of $1.00 per share. The Company expects to receive $11,500,000 in gross proceeds, before deducting underwriting discounts and commissions and offering expenses payable by the Company.

The Company has granted the underwriters a 45-day option to purchase up to 1,725,000 additional shares of common stock. The Company intends to use the net proceeds from this offering for, among other things, increasing working capital, funding research and development, and capital expenditures. In addition, the Company may use a portion of the net proceeds for licensing or acquiring intellectual property to incorporate into its products and product candidates or our research and development programs. The Company may also use a portion of the net proceeds to in-license, acquire or invest in complementary businesses or products; however, it has no current commitments or obligations to do so. 

The offering is expected to close on or about December 17, 2013, subject to the satisfaction of customary closing conditions.

Aegis Capital Corp. is acting as sole book-running manager for the offering.

This offering is being made pursuant to a shelf registration statement that the Company previously filed with the Securities and Exchange Commission (SEC) and which became effective on July 16, 2013. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC, and a final prospectus supplement and accompanying base prospectus will be filed with the SEC. Electronic copies of the preliminary prospectus supplement and, when available, electronic copies of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained from the SEC's website at http://www.sec.gov or from Aegis Capital Corp., 810 7th Avenue, 18th Floor, New York, NY 10019 or via telephone at 212-813-1010 or email: [email protected].