Annovis Bio Inc. announced on February 3, 2025, the pricing of its underwritten public offering, which is expected to generate gross proceeds of $21 million. The offering consists of 5,250,000 shares of common stock and warrants to purchase 5,250,000 shares of common stock. The combined public offering price is $4.00 per share and associated warrant.
The warrants will have an exercise price of $5.00 per share and will be immediately exercisable upon issuance for a period of five years. The offering is expected to close on February 4, 2025, subject to customary closing conditions. ThinkEquity is acting as sole book-running manager for the offering.
The Company intends to use the net proceeds primarily for working capital and general corporate purposes, including the continued clinical development of buntanetap. This capital infusion is critical for funding the pivotal Phase 3 Alzheimer's disease study.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.