Annovis Bio enters $50M ATM equity offering with BofA and ThinkEquity

Annovis Bio, Inc.

Up to $50M of common stock may be sold through BofA Securities and ThinkEquity as sales agents.
Sales agents will receive commission up to 2.0% of gross proceeds; customary indemnification provided.
Shares sold at market prices in ordinary brokers' transactions; no minimum obligation to sell.
Offering is made under existing shelf registration statement (File 333-252625) and prospectus supplement dated March 31, 2023.
Agreement may be terminated by either party; no assurance of any sales.

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

Annovis Bio, Inc. entered into Sales Agreement with BofA Securities, Inc. and ThinkEquity LLC valued at up to $50.0 million (effective 2023-03-31).

Action: entry
Agreement: atm program
Counterparty: BofA Securities, Inc. and ThinkEquity LLC
Value: up to $50.0 million
Effective: 2023-03-31

Exact text from the filing

On March 31, 2023, Annovis Bio, Inc. (the “Company”), entered into an ATM Equity Offering Sales Agreement SM (the “Sales Agreement”) with BofA Securities, Inc. (“BofA”) and ThinkEquity LLC (“ThinkEquity” and, together with BofA, the “Sales Agents”), as sales agents, pursuant to which the Company may offer and sell, from time to time through the Sales Agents, shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), having an aggregate offering price of up to $50.0 million (the “Shares”).

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Annovis Bio, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-041009

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