FBIO - Avenue Therapeutics Announces Closing of $5.0 Million Public Offering | Benzinga
MIAMI, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Avenue Therapeutics, Inc. (NASDAQ:ATXI) ("Avenue" or the "Company"), a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of neurologic diseases, today announced the closing of its previously announced public offering of an aggregate of 16,633,400 units (or pre-funded units in lieu thereof) at a public offering price of $0.3006 per unit (inclusive of the pre-funded warrant exercise price of $0.0001 per share). Each unit consisted of (i) one share of common stock (or one pre-funded warrant in lieu thereof), (ii) one Series A warrant to purchase one share of common stock, immediately exercisable at a price of $0.3006 per share and expiring five years from the date of issuance, and (iii) one Series B warrant to purchase one share of common stock, immediately exercisable at a price of $0.3006 per share and expiring eighteen months from the date of issuance. The gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, are approximately $5.0 million.
Maxim Group LLC and Lake Street Capital Markets, LLC acted as placement agents for the offering.
The securities described above were offered pursuant to a registration statement on Form S-1 (File No. (333- 274562), which was declared effective by the Securities and Exchange Commission (the "SEC") on October 31, 2023. The offering was made only by means of a prospectus which is a part of the effective registration statement. Copies of the final prospectus relating to this offering were filed with the SEC and may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745 or by emailing syndicate@maximgrp.com or Lake Street Capital ...