Corporate ActionJun 18, 2026, 12:37 PM
CervoMed Raises $10M in Registered Direct Offering
AI Summary
CervoMed Inc. announced it has entered into definitive agreements for a registered direct offering, selling 2,500,000 shares of common stock at $4.00 per share. The offering is expected to generate gross proceeds of $10 million, with net proceeds allocated for working capital and general corporate purposes. The closing is anticipated around June 22, 2026. The clinical-stage biotechnology company continues to advance its lead drug candidate, neflamapimod, in trials for age-related brain disorders.
Key Highlights
- CervoMed Inc. entered into definitive agreements for a registered direct offering.
- The company will sell 2,500,000 shares of common stock.
- The purchase price per share is $4.00.
- Gross proceeds from the offering are expected to be $10 million.
- Net proceeds will be used for working capital and general corporate purposes.
- The offering is expected to close on or about June 22, 2026.
- H.C. Wainwright & Co. is acting as the exclusive placement agent.
Price Impact
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