NetworkNewsBreaks – VistaGen Therapeutics Inc. (
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Posted On: 12/23/2020 2:56:15 PM
NetworkNewsBreaks – VistaGen Therapeutics Inc. (NASDAQ: VTGN) Closes $100M Underwritten Public Offering
VistaGen (NASDAQ: VTGN), a biopharmaceutical company developing new generation medicines for anxiety, depression and other central nervous system (“CNS”) disorders, has announced the closing of its $100 million underwritten public offering. The offering consisted of 63,000,000 shares of its common stock at an offering price of $0.92 per share, par value $0.001 per share, and 2,000,000 shares of its Series D convertible preferred stock at a public offering price of $21.16 per share. All of the securities in the offering were sold by VistaGen. Acuta Capital, New Enterprise Associates (“NEA”), OrbiMed and Venrock Healthcare Capital Partners, among others, participated in the offering as lead investors. VistaGen intends to use the net proceeds for research, development and manufacturing and regulatory expenses associated with continuing development of PH94B, PH10, AV-101, and potential drug candidates to expand its CNS pipeline and for other working capital and general corporate purposes. Jefferies LLC and William Blair & Company, L.L.C. acted as joint book-running managers for the offering and Maxim Group LLC acted as a financial advisor.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
VistaGen (NASDAQ: VTGN), a biopharmaceutical company developing new generation medicines for anxiety, depression and other central nervous system (“CNS”) disorders, has announced the closing of its $100 million underwritten public offering. The offering consisted of 63,000,000 shares of its common stock at an offering price of $0.92 per share, par value $0.001 per share, and 2,000,000 shares of its Series D convertible preferred stock at a public offering price of $21.16 per share. All of the securities in the offering were sold by VistaGen. Acuta Capital, New Enterprise Associates (“NEA”), OrbiMed and Venrock Healthcare Capital Partners, among others, participated in the offering as lead investors. VistaGen intends to use the net proceeds for research, development and manufacturing and regulatory expenses associated with continuing development of PH94B, PH10, AV-101, and potential drug candidates to expand its CNS pipeline and for other working capital and general corporate purposes. Jefferies LLC and William Blair & Company, L.L.C. acted as joint book-running managers for the offering and Maxim Group LLC acted as a financial advisor.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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