NetworkNewsBreaks – CNS Pharmaceuticals Inc. (NASDAQ: CNSP) Announces Agreements Totaling $11.5M for Gross Proceeds
CNS Pharmaceuticals (NASDAQ: CNSP), a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers of the brain and central nervous system (“CNS”), has entered into securities purchase agreements with several institutional and accredited investors. The agreements outline the issue of more than 12 million shares of common stock, prefunded warrants and warrants in a private placement; the shares and warrants are offered at a purchase price of $0.95 per share. The issuance will result in an estimated $11.5 million gross proceeds for the company. Anticipated closing of the private placement is expected on or about Jan. 10, 2022, assuming customary closing conditions are met. CNSP will use the funds to support its clinical trials and preclinical programs as well as other R&D activities and general corporate purposes. According to the announcement, the transaction does not involve a public offering and the securities are not registered under the Securities Act of 1933 or applicable state securities laws, which means the securities cannot be offered in the United States without including an effective registration statement or applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
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CNS Pharmaceuticals (NASDAQ: CNSP), a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers of the brain and central nervous system (“CNS”), has entered into securities purchase agreements with several institutional and accredited investors. The agreements outline the issue of more than 12 million shares of common stock, prefunded warrants and warrants in a private placement; the shares and warrants are offered at a purchase price of $0.95 per share. The issuance will result in an estimated $11.5 million gross proceeds for the company. Anticipated closing of the private placement is expected on or about Jan. 10, 2022, assuming customary closing conditions are met. CNSP will use the funds to support its clinical trials and preclinical programs as well as other R&D activities and general corporate purposes. According to the announcement, the transaction does not involve a public offering and the securities are not registered under the Securities Act of 1933 or applicable state securities laws, which means the securities cannot be offered in the United States without including an effective registration statement or applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
