Avenue Therapeutics closes $5M public offering of stock and warrants

AVENUE THERAPEUTICS, INC.

Gross proceeds ~$5.0M; estimated net proceeds ~$4.1M after placement agent fees and expenses.
Offering of 16,633,400 units at $0.3006/unit; each unit has 1 share (or pre-funded warrant) plus two warrants.
Series A warrants exercisable at $0.3006/share for 5 years; Series B warrants same price for 18 months.
Maxim Group LLC and Lake Street Capital Markets served as placement agents; 8% cash fee (4% for affiliates).
Closing occurred November 2, 2023; proceeds expected for general corporate purposes.

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