Business
Cognition Therapeutics Announces Closing of $11.5 Million Public Offering of Common Stock
PURCHASE, N.Y., March 14, 2024 (GLOBE NEWSWIRE) -- Cognition Therapeutics, Inc. (“Cognition,” the “Company” or “We”) (Nasdaq: CGTX), a clinical stage company
About this update from Cognition Therapeutics, Inc.
[{"type":"text","content":"PURCHASE, N.Y., March 14, 2024 (GLOBE NEWSWIRE) -- Cognition Therapeutics, Inc. (“Cognition,” the “Company” or “We”) (Nasdaq: CGTX), a clinical stage company developing product candidates designed to treat neurodegenerative disorders, announced today the closing of its previously announced underwritten public offering of 6,571,428 shares of its common stock. Each share of common stock was sold at a price to the public of $1.75 per share. The gross proceeds to the Company from the offering were approximately $11.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from this offering to fund research, clinical development, process development and manufacturing of Cognition’s product candidates, working capital, capital expenditures and other general corporate purposes. Titan Partners Group, a division of American Capital Partners, acted as sole book-running manager for the offering. The offering was made pursuant to an effective “shelf” registration statement on Form S-3 (File No. 333-268992) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 23, 2022, and declared effective by the SEC on January 3, 2023. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering were filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering, may be obtained by visiting the SEC’s website at www.sec.gov or by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th Floor, New York, New York 10007, by phone at (929) 833-1246 or by email at [email protected]. This press release does 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 other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About Cognition Therapeutics, Inc. Cognition Therapeutics, Inc. is a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative, small molecule therapeutics target...