Cassava Sciences closes $50M registered direct offering of 1.67M shares at $30/share

FILANA THERAPEUTICS, INC.

Gross proceeds ~$50M from 1,666,667 shares at $30; net proceeds ~$47.3M after fees.
H.C. Wainwright acted as exclusive placement agent; JonesTrading and Perella Weinberg as advisors.
Proceeds to fund working capital and development of simufilam, its lead Alzheimer's candidate.
Offering closed Nov. 22, 2022; shares sold under existing shelf registration statement.
90-day lock-up on company share sales; prohibition on variable-rate transactions for 90 days.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FILANA THERAPEUTICS, INC. entered into Securities Purchase Agreement with certain investors valued at approximately $50 million (effective 2022-11-18).

Action: entry
Agreement: equity purchase
Counterparty: certain investors
Value: approximately $50 million
Effective: 2022-11-18

Exact text from the filing

On November 18, 2022, Cassava Sciences, Inc. (the “ Company ” ) entered into a Securities Purchase Agreement (the “ Agreement ” ) with certain investors (each, including its successors and assigns, a “ Purchaser, ” and collectively the “ Purchasers ” ), pursuant to which the Company agreed to issue and sell, in a registered direct offering (the “ Offering ”) 1,666,667 shares (the “ Shares ” ) of the Company’s common stock, par value $0.001 per share (the “ Common Stock ” ), at an offering price of $30.00 per share, for gross proceeds of approximately $50 million.

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FILANA THERAPEUTICS, INC. filing history →

Source: SEC EDGAR

accession 0001069530-22-000061

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