NERV - Minerva Neurosciences to launch ~$20M private investment in public equity financing

2023-06-28 08:57:07 ET

• Biopharmaceutical company Minerva Neurosciences ( NASDAQ: NERV ) said on Wednesday that it is launching an ~$20M private investment in public equity, or PIPE, financing.
• The financing involves 1.43M shares at $10 per share and pre-funded warrants to purchase 575,575 shares at $9.99 per pre-funded warrant.
• The offering will be made to the biopharmaceutical company Boehringer Ingelheim and Federated Hermes Kaufmann Funds.
• The net proceeds are intended to be used to support potential regulatory approval in the U.S., commercialization activities and market launch of roluperidone, which is being developed for the treatment of negative symptoms in schizophrenia.
• The financing is expected to close on or about June 30.
• The offering gives Boehringer Ingelheim the right to designate one individual to attend all meetings of Minerva's board or any committee thereof in a non-voting, observer capacity.
• NERV shares were trading +32.23% pre-market.
• Source: Press Release

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