Annovis Bio Inc. announced on January 31, 2025, its intention to offer and sell common stock and warrants in an underwritten public offering. All of the common stock and warrants are to be sold by the Company. ThinkEquity is acting as the sole book-running manager for the offering.
The Company expects to grant the underwriter a 45-day option to purchase up to an additional 15% of the number of shares of common stock and/or warrants sold to cover over-allotments. The offering is subject to market conditions, and there is no assurance as to its completion, actual size, or terms.
Annovis intends to use the net proceeds from this offering primarily for working capital and general corporate purposes. This includes the continued clinical development of its lead compound, buntanetap. This capital raise is essential for funding the costly late-stage clinical trials.
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