Business
Acumen Pharmaceuticals Announces Proposed Public Offering of Common Stock
CHARLOTTESVILLE, Va. and CARMEL, Ind., July 17, 2023 (GLOBE NEWSWIRE) -- Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS), a clinical-stage biopharmaceutical
About this update from Acumen Pharmaceuticals, Inc.
[{"type":"text","content":"CHARLOTTESVILLE, Va. and CARMEL, Ind., July 17, 2023 (GLOBE NEWSWIRE) -- Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS), a clinical-stage biopharmaceutical company developing a novel therapeutic that targets soluble amyloid beta oligomers (AβOs) for the treatment of Alzheimer’s disease (AD), today announced that it has commenced an underwritten public offering of $100 million of shares of its common stock. All of the shares to be sold in the offering are to be sold by Acumen. In connection with the offering, Acumen intends to grant the underwriters a 30-day option to purchase up to an additional $15 million of shares of its common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. BofA Securities, Citigroup and Stifel are acting as bookrunners for the public offering. BTIG is acting as lead manager for the public offering. Acumen intends to use its net proceeds from the public offering primarily to fund the Phase 2 portion of a future, potential Phase 2/3 adaptable trial of ACU193, to fund chemistry, manufacturing and other research and development activities, and for working capital and other general corporate purposes. A shelf registration statement on Form S-3, including a base prospectus, relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the “SEC”) on July 1, 2022 and declared effective by the SEC on July 8, 2022. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. An electronic copy of the preliminary prospectus supplement and accompanying base prospectus relating to the offering, when filed, will be available on the SEC’s website at www.sec.gov and may also be obtained, when available, by contacting BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email: [email protected], by contacting Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146), or by contacting Stifel, Nicolaus & Company, Inc., Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone...