TAMPA, Fla.– 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 closing of its initial public offering of 2,500,000 shares of its common stock and full exercise of the underwriter’s over-allotment option to purchase 375,000 additional shares of common stock at a price to the public of $5.00 per share. The gross proceeds from the offering to Alzamend, before deducting the underwriting discounts and estimated offering expenses, were approximately $14.4 million. Alzamend’s common stock is listed on The Nasdaq Capital Market under the ticker symbol “ALZN”.
Spartan Capital Securities, LLC acted as the sole book-running manager for the public offering.
The securities described above were offered by Alzamend pursuant to a registration statement on Form S-1 (File No. 333-255955) declared effective by the SEC on June 14, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Olshan Frome Wolosky LLP served as counsel to Alzamend Neuro and Haynes & Boone LLP represented the underwriter.
