Annovis Bio Prices 5.26M Shares and Warrants at $1.90 for $10M
Annovis Bio priced a $10 million underwritten offering of 5,263,156 common shares paired with warrants at $1.90 apiece, generating gross proceeds of $10 million. Warrants exercisable at $2.50 per share after six months will expire in 5.5 years, and net proceeds will support Phase 3 Alzheimer’s development and corporate needs.
1. Offering Terms and Size
Annovis Bio launched an underwritten offering of 5,263,156 common shares together with equal warrants, each unit priced at $1.90. Each warrant allows the purchase of one share at $2.50, becomes exercisable six months after issuance and remains valid for five years and six months.
2. Use of Proceeds
Net proceeds from the offering are earmarked primarily for advancing the Phase 3 clinical study of buntanetap in Alzheimer’s disease, while remaining funds will bolster working capital and general corporate purposes. This funding aims to extend the company’s cash runway through key trial milestones.
3. Underwriting and Closing
Canaccord Genuity is acting as sole bookrunner for the transaction, which is expected to close on or about April 10, 2026, subject to customary closing conditions. The shares and warrants are being issued under the company’s effective shelf registration statement.