Annovis Bio Inc. announced on February 4, 2025, the closing of its previously announced underwritten public offering, generating gross proceeds of $21 million. The offering included 5,250,000 shares of common stock and warrants to purchase 5,250,000 shares of common stock. The combined public offering price was $4.00 per share and associated warrant.
The warrants have an exercise price of $5.00 per share and are immediately exercisable for five years from issuance. The net proceeds from the offering are intended primarily for the continued clinical development of buntanetap in a Phase 3 study for Alzheimer’s disease, as well as for working capital and general corporate purposes.
ThinkEquity acted as the sole book-running manager for the offering. This successful capital raise provides essential funding for the company's ongoing pivotal clinical trials, addressing a critical financial need for the clinical-stage biotechnology firm.
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