Annovis Bio terminates $50M ATM equity facility after selling 704K shares for $7.66M

Annovis Bio, Inc.

Terminated ATM Sales Agreement with BofA Securities and ThinkEquity, effective April 9, 2023.
Prior to termination, sold 704,000 shares at $10.88/share for gross proceeds of $7,659,520.
No termination penalties incurred; no further shares will be offered under the agreement.
Original agreement allowed up to $50M in common stock sales; only ~15% utilized.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Annovis Bio, Inc. terminated ATM Equity Offering Sales Agreement with BofA Securities, Inc. and ThinkEquity LLC valued at up to $50,000,000 (effective 2023-04-09).

Action: termination
Agreement: atm program
Counterparty: BofA Securities, Inc. and ThinkEquity LLC
Value: up to $50,000,000
Effective: 2023-04-09

Exact text from the filing

On April 4, 2023, the Company delivered written notice to BofA and ThinkEquity to terminate the Sales Agreement, effective April 9, 2023, pursuant to Section 9(a) of the Sales Agreement.

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Annovis Bio, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-041237

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