Biopharmaceutical company CNS Pharmaceuticals ( NASDAQ: CNSP ) entered into securities purchase agreements with health-care focused institutional investors for the purchase and sale of 366K shares and warrants at a combined purchase price of $3.75 per share. The warrants issued pursuant to the concurrent private placement will have an exercise price of $3.
62 per share, will be exercisable immediately following the date of issuance and will expire 5 years from the initial exercise date. The gross proceeds are expected to be ~$1.37M.
The closing of the offering is expected to occur on or about June 17, 2024. The company intends to use the net proceeds from the offering for working capital and general corporate purposes. The stock price declined 6.
1% on Monday during pre-market hours of trade. More on CNS Pharmaceuticals Financial information for CNS Pharmaceuticals.
