Minerva Neurosciences raises $20M in PIPE at $10/share for roluperidone launch

Minerva Neurosciences, Inc.

Gross proceeds ~$20M from 1,425,000 shares at $10/share and 575,575 pre-funded warrants at $9.99.
Investors include Boehringer Ingelheim and Federated Hermes Kaufmann Funds; Boehringer gets board observer rights.
Net proceeds to support U.S. regulatory approval, commercialization, and launch of roluperidone for negative schizophrenia symptoms.
Closing expected on or about June 30, 2023, subject to customary closing conditions.

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

Minerva Neurosciences, Inc. entered into Securities Purchase Agreement with certain institutional accredited investors valued at approximately $20.0 million (effective 2023-06-27).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional accredited investors
Value: approximately $20.0 million
Effective: 2023-06-27

Exact text from the filing

On June 27, 2023, Minerva Neurosciences, Inc. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with certain institutional accredited investors (the “Investors”), pursuant to which the Company agreed to issue and sell to the Investors in a private placement (the “Private Placement”) (i) an aggregate of 1,425,000 shares (the “Shares”) of the Company’s common stock, $0.0001 par value per share (the “Common Stock”), at a purchase price of $10.00 per Share, and (ii) in lieu of additional shares of Common Stock, pre-funded warrants (the “Pre-Funded Warrants”) to purchase an aggregate of 575,575 shares of Common Stock at a purchase price of $9.99 per Pre-Funded Warrant.

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Minerva Neurosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-176877

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