Alzamend Neuro, Inc. (“Alzamend”), a preclinical stage biopharmaceutical company focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders, today announced the pricing of its initial public offering of 2,500,000 shares of its common stock at a price to the public of $5.00 per share. The gross proceeds from the offering to Alzamend, before deducting underwriting discounts and commissions and other offering expenses payable by Alzamend, are expected to be $12.5 million. In addition, the underwriters have been granted a 45-day option to purchase up to an additional 375,000 shares of common stock, at the initial public offering price, less underwriting discounts and commissions.
The shares are expected to begin trading on The Nasdaq Capital Market on June 15, 2021 under the ticker symbol “ALZN” and the offering is expected to close on June 17, 2021, subject to customary closing conditions.
Spartan Capital Securities, LLC is acting as sole book-running manager for the offering.
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