CervoMed secures $50M upfront private placement; warrants could add $99.4M; funds Phase 2b DLB trial

CervoMed Inc.

Gross proceeds ~$50M upfront; up to ~$149.4M if Series A warrants ($39.24/share, 100% premium) fully exercised.
Unit price $19.745; includes pre-funded warrants ($0.001 strike) and Series A warrants expiring Apr 2027 or post positive Phase 2b data.
Financing led by RA Capital Management with Armistice, Special Situations, Soleus; Morgan Stanley and Canaccord placement agents.
Net proceeds to fund neflamapimod R&D for dementia with Lewy bodies; expected cash runway through end of 2025.
Closing expected April 1, 2024; resale registration statement to be filed within 60 days after close.

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

CervoMed Inc. entered into Purchase Agreement with purchasers named therein valued at approximately $50 million (effective 2024-03-28).

Action: entry
Agreement: equity purchase
Counterparty: purchasers named therein
Value: approximately $50 million
Effective: 2024-03-28

Exact text from the filing

On March 28, 2024, CervoMed Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with the purchasers named therein (the “Purchasers”), for the private placement (the “Private Placement”) of an aggregate of 2,532,285 units

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284 material agreements filed in the last 30 days. Browse all material agreements →

CervoMed Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-009697

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