Annovis Bio prices $7.5M public offering of common stock and warrants

Annovis Bio, Inc.

Offering of 1.25M units at $6.00/unit, each unit = 1 share + 1 warrant to buy 1 share at $9.00.
Gross proceeds of ~$7.5M; net proceeds to fund clinical trials of buntanetap and general corporate purposes.
Estimated cash and cash equivalents of $6.355M as of Sep 30, 2023 (unaudited, preliminary).
Closing expected on or about Nov 2, 2023; Canaccord Genuity sole bookrunner.
Warrants redeemable at $0.001 upon certain positive clinical data and stock price conditions.

item 1.01 item 2.02 item 8.01 item 9.01

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. entered into Underwriting Agreement with Cannacord Genuity LLC (effective 2023-10-31).

Action: entry
Agreement: underwriting
Counterparty: Cannacord Genuity LLC
Effective: 2023-10-31

Exact text from the filing

On October 31, 2023, Annovis Bio, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Cannacord Genuity LLC, as representative of the several underwriters (the “Representative”) in connection with the issuance and sale by the Company in a public offering of an aggregate of (i) 1,250,000 shares of the Company’s common stock (the “Shares”) and (ii) warrants to purchase 1,250,000 shares of the Company’s common stock (the “Warrants”), at a public offering price of $6.00 per unit (the “Offering”), less underwriting discounts and commissions, pursuant to an effective shelf registration statement on Form S-3 (Registration No. 333-252625) and a related prospectus supplement filed with the Securities and Exchange Commission (the “SEC”).

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Annovis Bio, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-113281

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