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Axsome Therapeutics Announces Pricing of Public Offering of $225 Million of Shares of Common Stock
NEW YORK, June 28, 2023 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM) (“Axsome” or the “Company”), a biopharmaceutical company developing and
About this update from Axsome Therapeutics, Inc.
[{"type":"text","content":"NEW YORK, June 28, 2023 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM) (“Axsome” or the “Company”), a biopharmaceutical company developing and delivering novel therapies for the management of central nervous system (CNS) disorders, today announced the pricing of an underwritten public offering of 3,000,000 shares of its common stock at a public offering price of $75.00 per share. The proceeds from the offering, before deducting the underwriting discounts and commissions and other offering expenses payable by Axsome, are expected to be $225.0 million. In addition, Axsome has granted the underwriters a 30-day option to purchase up to 450,000 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about June 30, 2023, subject to customary closing conditions. Axsome intends to use the proceeds from this offering to advance its late-stage pipeline, including funding existing and potential new clinical programs, products, and product candidates, to expand its commercialization efforts, and for other general corporate purposes. SVB Securities is acting as lead bookrunning manager for the offering. Guggenheim Securities, Truist Securities, William Blair and Cantor are acting as joint bookrunning managers, and Ladenburg Thalmann, Mizuho and H.C. Wainwright & Co. are acting as lead managers for the offering. The shares of common stock described above are being offered by Axsome pursuant to its previously filed shelf registration statement on Form S-3, which automatically became effective upon filing with the Securities and Exchange Commission (the “SEC”). The offering may be made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. A final prospectus supplement and accompanying prospectus will be filed with the SEC, copies of which, when available, may be obtained by contacting SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at 1-800-808-7525, ext. 6105, or by email at [email protected]. This press release shall not constitute an offer to sell or a solicitation of a...