Soleno Therapeutics Announces Closing of Underwritten Public Offering of Common Stock and Concurrent Private Placement of Common Stock and Pre-Funded Warrants and Full Exercise of Underwriters’ Option to Purchase Additional Shares
02 Octubre 2023 - 3:05PM
Soleno Therapeutics, Inc. (Nasdaq:SLNO), (“Soleno” or the
“Company”), a clinical-stage biopharmaceutical company developing
novel therapeutics for the treatment of rare diseases, announced
today the closing of the underwritten public offering of 3,450,000
shares of its common stock at a public offering price of $20.00 per
share, which included the exercise in full by the underwriters of
their option to purchase additional shares. The gross proceeds of
the public offering were $69.0 million, before deducting the
underwriting discount and other estimated offering
expenses. Soleno also announced the closing of
approximately $60.0 million of shares of its common stock and
pre-funded warrants in a concurrent private offering pursuant to
the securities purchase agreement with certain investors, including
entities affiliated with existing stockholders, at a price per
share of common stock equal to the public offering price of $20.00
and a price per pre-funded warrant of $19.99. Adage Capital
Partners LP, Commodore Capital, Frazier Life Sciences, Nantahala
Capital, Perceptive Advisors, Woodline Partners LP, and other
existing investors participated in the concurrent private
placement.
Guggenheim Securities, LLC, Cantor Fitzgerald & Co., and
Oppenheimer & Co. Inc. acted as the joint book-running managers
for the public offering and placement agents for the concurrent
private placement. Laidlaw & Company (UK) Ltd. acted as lead
manager for the offering and a placement agent for the concurrent
private placement.
The securities described above relating to the public offering
were offered by Soleno pursuant to registration statements on Form
S-3 (File Nos. 333-252108 and 333-274731) previously declared
effective by the Securities and Exchange Commission (the “SEC”), a
preliminary prospectus supplement filed with the SEC on September
27, 2023 and a final prospectus supplement filed with the SEC on
September 29, 2023. Copies of the preliminary and final prospectus
supplements and the accompanying prospectus relating to this
offering may be obtained from Guggenheim Securities, LLC,
Attention: Equity Syndicate Department, 330 Madison Avenue, New
York, NY 10017 or by telephone at (212) 518-9544, or by email at
GSEquityProspectusDelivery@guggenheimpartners.com; from Cantor
Fitzgerald & Co., Attention: Capital Markets, 110 East 59th
Street, 6th Floor, New York, New York 10022, or by e-mail at
prospectus@cantor.com; or from Oppenheimer & Co. Inc.,
Attention: Syndicate Prospectus Department, 85 Broad St., 26th
Floor, New York, New York 10004, by telephone at (212) 667-8055 or
by email at EquityProspectus@opco.com. Electronic copies of the
preliminary and final prospectus supplements and accompanying
prospectus are also available on the website of the SEC at
www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Soleno Therapeutics, Inc.
Soleno is focused on the development and commercialization of
novel therapeutics for the treatment of rare diseases. The
company’s lead candidate, DCCR (Diazoxide Choline) Extended-Release
tablets, a once-daily oral tablet for the treatment of Prader-Willi
syndrome, recently completed its Phase 3 development program to
support a planned New Drug Application submission.
Corporate Contact:
Brian RitchieLifeSci Advisors, LLC212-915-2578
Soleno Therapeutics (NASDAQ:SLNO)
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