Avenue therapeutics announces closing of $3.25 million registered direct and private placement
Miami, jan. 31, 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 the closing of its previously announced registered direct offering and concurrent private placement with a single institutional accredited investor. the company issued 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 issued 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 were approximately $3.25 million. the transactions closed on january 31, 2023.
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