Annovis Bio Inc. (ANVS), a clinical-stage biotechnology company, on Wednesday announced the pricing of an underwritten public offering.
The company is issuing 7,895,000 shares of common stock, and accompanying warrants to purchase up to 7,105,000 shares of common stock. These are being issued at a combined price of $1.90 per share and accompanying warrant.
Each warrant is exercisable immediately at an exercise price of $2.25 per share and will expire six years from the date of issuance.
The gross proceeds from the offering are expected to be approximately $15 million, before deducting underwriting discounts, commissions, and other offering expenses. The company plans to use the proceeds to advance its lead candidate Buntanetap in the treatment of Alzheimer's and Parkinson's disease, for working capital, and corporate purposes.
The offering is expected to close on or about May 21, 2026, subjected to customary closing conditions
ANVS closed Wednesday at $2.04, up 5.15%. In the pre-market, the stock is trading at $2.00, down 0.25%.
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