Alto Neuroscience secures up to $11.7M convertible loan from Wellcome for ALTO-100 Phase 2b trial

Alto Neuroscience, Inc.

Up to $11.663M convertible loan from Wellcome Trust; $2M funded immediately, remainder upon milestones.
Interest accrues at SONIA+2%; convertible into common stock at 20% discount to 30-day VWAP after 2nd anniversary.
Conversion shares capped at 5,363,326 (19.9% of outstanding stock).
Proceeds used exclusively to fund ALTO-100 Phase 2b clinical trial in bipolar depression.

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