Innovative Financing for Alpha Cognition by Spartan Capital
Spartan Capital Securities Facilitates Key Financing
Spartan Capital Securities LLC plays a pivotal role in the financial landscape by assisting firms with their capital needs. Recently, they proudly served as a selling group member in Alpha Cognition Inc.'s recent financing endeavor. This venture involved $4.454 million raised through convertible notes and warrants, a significant contribution towards the ongoing efforts for therapeutic advancements in neurodegenerative disorders.
Understanding Alpha Cognition's Mission
Alpha Cognition Inc. is a biopharmaceutical company dedicated to innovating treatments specifically aimed at addressing the challenges posed by Alzheimer’s disease and other similar conditions. Their recent financing initiative attracted a range of investors, from existing supporters to new high-net-worth individuals as well as institutional funds. These funds are essential for fueling the company's initiatives to innovate healthcare solutions.
The Role of Spartan Capital
Spartan Capital Securities LLC not only brings its expertise in capital markets but also its extensive network to the table. They facilitated the successful funding led by The Benchmark Company, LLC, which expertly acted as the sole placement agent. Together, they tapped into valuable resources to ensure the financing's successful outcome.
Details of the Financing Structure
The bridge financing package structured by Alpha Cognition includes convertible notes that expire on September 24, 2026. These notes offer a notable 10% annual interest rate and can be converted into common shares at a price of $0.422 per share. Accompanying the notes are warrants, providing investors the opportunity to purchase additional shares at the same conversion rate for a duration of five years.
Usage of Proceeds
Funds obtained from this strategic financing will significantly bolster Alpha Cognition's efforts. The proceeds are intended for payer pricing, contracting initiatives, and the production of their groundbreaking FDA-approved drug, ZUNVEYL™. This strategic allocation will not only enhance operational efficiency but also support the rollout of potentially life-changing therapies for patients.
About Spartan Capital Securities LLC
Spartan Capital Securities is recognized as a comprehensive financial service provider, committed to delivering investment advisory services to institutional clients and high-net-worth individuals. Their success comes from a deep understanding of market dynamics and a robust commitment to client service. They specialize in a myriad of services ranging from capital raising strategies to offering tailored asset management solutions.
Contact Information for Spartan Capital
Those interested in understanding more about the services of Spartan Capital Securities LLC can reach out through various channels. Their office, located at 45 Broadway, 19th Floor, New York, stands ready to assist potential clients. For inquiries, they can be contacted via email at investmentbanking@spartancapital.com.
Frequently Asked Questions
What is the purpose of Alpha Cognition's recent financing?
The financing is intended to support the commercialization of innovative therapies targeting neurodegenerative disorders, particularly Alzheimer's disease.
How much did Alpha Cognition raise in this financing?
Alpha Cognition secured $4.454 million through this financing initiative, which includes convertible notes and warrants.
Who facilitated the financing for Alpha Cognition?
Spartan Capital Securities LLC served as a selling group member, while The Benchmark Company acted as the sole placement agent.
What are the terms of the convertible notes?
The convertible notes carry an annual interest rate of 10% and have a maturity date of September 24, 2026, with a conversion price of $0.422 per share.
How will Alpha Cognition use the funds raised?
The funds will be used for payer pricing, contracting efforts, and to support the manufacturing of their FDA-approved drug, ZUNVEYL™.
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