NetworkNewsBreaks – CNS Pharmaceuticals Inc. (NA
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Posted On: 06/26/2024 4:40:24 PM
NetworkNewsBreaks – CNS Pharmaceuticals Inc. (NASDAQ: CNSP) Announces Pricing of Registered Direct, Concurrent Private Placement
CNS Pharmaceuticals (NASDAQ: CNSP) is a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers in the brain and central nervous system. The company today announced its entry into securities purchase agreements with health-care focused institutional investors for the purchase and sale of 568,000 shares of common stock in a registered direct offering and warrants to purchase up to 568,000 shares of common stock in a concurrent private placement (together with the registered direct offering, the “offering”) at a combined purchase price of $2.45 per share. The warrants issued per the concurrent private placement will have an exercise price of $2.32 per share, exercisable immediately following the date of issuance, with a 5-year expiration from the initial exercise date. Subject to the satisfaction of customary conditions, the closing of the offering is expected to occur on or about June 27, 2024. The gross proceeds are expected to be approximately $1.39 million, from which the company intends to use the net for working capital and general corporate purposes.
NOTE TO INVESTORS: The latest news and updates relating to CNSP are available in the company’s newsroom at https://nnw.fm/CNSP
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
CNS Pharmaceuticals (NASDAQ: CNSP) is a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers in the brain and central nervous system. The company today announced its entry into securities purchase agreements with health-care focused institutional investors for the purchase and sale of 568,000 shares of common stock in a registered direct offering and warrants to purchase up to 568,000 shares of common stock in a concurrent private placement (together with the registered direct offering, the “offering”) at a combined purchase price of $2.45 per share. The warrants issued per the concurrent private placement will have an exercise price of $2.32 per share, exercisable immediately following the date of issuance, with a 5-year expiration from the initial exercise date. Subject to the satisfaction of customary conditions, the closing of the offering is expected to occur on or about June 27, 2024. The gross proceeds are expected to be approximately $1.39 million, from which the company intends to use the net for working capital and general corporate purposes.
NOTE TO INVESTORS: The latest news and updates relating to CNSP are available in the company’s newsroom at https://nnw.fm/CNSP
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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