Avalo Therapeutics, Inc. Announces Pricing of $15 Million Public Offering of Common Stock and Warrants

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[{"type":"text","content":"WAYNE, Pa. and ROCKVILLE, Md., Feb. 02, 2023 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (NASDAQ: AVTX) (Avalo) announced today the pricing of an underwritten public offering of 3,770,000 shares of its common stock and warrants to purchase up to an aggregate of 3,770,000 shares of common stock, at a price to the public of $3.98 per share and warrant. The warrants have a one-year term and an exercise price of $5.00 per share. The offering is expected to close on February 7, 2023, subject to customary closing conditions. The gross proceeds to Avalo from the public offering, before deducting underwriting discounts and commissions and offering expenses payable by Avalo, are expected to be approximately $15 million. SVB Securities and RBC Capital Markets are acting as joint bookrunning managers for the offering. The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-254000) that was declared effective by the Securities and Exchange Commission (the “SEC”) on March 19, 2021. The offering is being made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement relating to the offering will be available on the SEC’s website, located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may also be obtained from SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by phone at (800) 808-7525, ext. 6105, or by email at [email protected]; or RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at (877) 822-4089 or by email at [email protected]. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor shall there be any offer or 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 Avalo Therapeutics Avalo is a clinical stage biotechnology company focused on the treatment of immune dysregulation by developing therapies that target the LIGHT network. LIGHT (Lymphotoxin-like, exhibits Inducible ex...

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