Alpha Cognition Announces Partial Exercise of Over-allotment Option
16 Dicembre 2024 - 8:56PM
Business Wire
Alpha Cognition Inc. (Nasdaq: ACOG) (“Alpha Cognition”, or the
“Company”), a biopharmaceutical company committed to developing
novel therapies for debilitating neurodegenerative disorders, today
announced that the underwriters of its underwritten U.S. public
offering (the “Offering”) have partially exercised their
over-allotment option to purchase an additional 488,506 common
shares at the public offering price of US$5.75 per share for an
additional US$2.8 million in gross proceeds. After giving effect to
the partial exercise of the over-allotment option, the Company sold
an aggregate 9,184,159 common shares for gross proceeds of
approximately US$52.8 million, before deducting underwriter
discounts and other related expenses. The option closing date was
December 16, 2024. The common shares began trading on The Nasdaq
Capital Market on November 12, 2024, under the ticker symbol
“ACOG”.
The Company intends to use the proceeds towards the
commercialization and launch of ZUNVEYL™ in Alzheimer’s Disease,
further research and development of its pipeline product
candidates, continued commercial CMC activities (chemistry,
manufacturing, and controls), and for working capital and general
corporate purposes.
Titan Partners Group, a division of American Capital Partners,
is acting as Sole Bookrunner for the offering.
The securities were sold pursuant to a registration statement on
Form S-1 (File No. 333-280196) relating to these securities and a
related registration statement on Form S-1 MEF that became
effective upon its filing in accordance with Rule 462(b) under the
Securities Act of 1933, as amended. The Offering is being made only
by means of a prospectus. A copy of the final prospectus related to
the Offering may be obtained from Titan Partners Group LLC, a
division of American Capital Partners, LLC, 4 World Trade Center,
29th Floor, New York, NY 10007, or via email at
prospectus@titanpartnersgrp.com or telephone at (929) 833-1246. In
addition, a copy of the final prospectus relating to the Offering
may be obtained via the SEC's website at www.sec.gov.
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.
About Alpha Cognition Inc.
Alpha Cognition Inc. is a commercial stage, biopharmaceutical
company dedicated to developing treatments for patients suffering
from neurodegenerative diseases, such as Alzheimer’s disease and
Cognitive Impairment with mild Traumatic Brain Injury (“mTBI”), for
which there are currently no approved treatment options.
ZUNVEYL is a patented drug approved as a new generation
acetylcholinesterase inhibitor (AChEI) for the treatment of
Alzheimer’s disease, with expected minimal gastrointestinal side
effects. ZUNVEYL’s active metabolite is differentiated from
donepezil and rivastigmine in that it improves the function of
neuronal nicotinic receptors, most notably the alpha-7 subtype,
which is known to have a positive effect on cognition.
Benzgalantamine is also being developed in combination with
memantine to treat moderate to severe Alzheimer’s dementia, and as
an intranasal formulation for Cognitive Impairment with mTBI.
Forward-looking Statements
This news release includes forward-looking statements within the
meaning of applicable securities laws. Except for statements of
historical fact, any information contained in this news release may
be a forward‐looking statement that reflects the Company’s current
views about future events and are subject to known and unknown
risks, uncertainties, assumptions and other factors that may cause
the actual results, levels of activity, performance or achievements
to be materially different from the information expressed or
implied by these forward-looking statements. In some cases, you can
identify forward‐looking statements by the words “may,” “might,”
“will,” “could,” “would,” “should,” “expect,” “intend,” “plan,”
“objective,” “anticipate,” “believe,” “estimate,” “predict,”
“project,” “potential,” “target,” “seek,” “contemplate,” “continue”
and “ongoing,” or the negative of these terms, or other comparable
terminology intended to identify statements about the future.
Forward‐looking statements may include statements regarding the
potential use of proceeds of the Offering. Although the Company
believes to have a reasonable basis for each forward-looking
statement, we caution you that these statements are based on a
combination of facts and factors currently known by us and our
expectations of the future, about which we cannot be certain. The
Company cannot assure that the actual results will be consistent
with these forward-looking statements. These forward‐looking
statements speak only as of the date of this news release and the
Company undertakes no obligation to revise or update any
forward‐looking statements for any reason, even if new information
becomes available in the future.
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version on businesswire.com: https://www.businesswire.com/news/home/20241216876864/en/
For further information: Michael McFadden, CEO Tel:
1-858-344-4375 info@alphacognition.com
Titan Partners Contact: Tel: (929) 833-1246
info@titanpartnersgrp.com
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