Avenue therapeutics announces $3.25 million registered direct and private placement priced at the market under nasdaq rules

Miami, jan. 27, 2023 (globe newswire) -- avenue therapeutics, inc. (nasdaq: atxi) (“avenue” or the “company”), a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of central nervous system diseases, today announced that it has entered into a definitive agreement with a single institutional investor for the purchase and sale of 1,940,299 shares of common stock and pre-funded warrants to acquire common stock in a registered direct offering. in a concurrent private placement, the company also agreed to issue to the same investor a total of 1,940,299 warrants to purchase up to one share of common stock each at an exercise price of $1.55 per share. the private placement warrants will be exercisable immediately subject to registration and will have a 3-year term from the initial exercise date. aggregate gross proceeds to the company of both transactions are expected to be approximately $3.25 million. the transactions are expected to close on or about january 31, 2023, subject to the satisfaction of customary closing conditions.
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