Business
Cognition Therapeutics Announces Pricing of $11.5 Million Public Offering of Common Stock
PURCHASE, N.Y., March 11, 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 11, 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, today announced that it has priced an underwritten public offering of 6,571,428 shares of its common stock at an offering price of $1.75 per share of common stock. Cognition has also granted the underwriters a 30-day option to purchase up to 985,714 additional shares of its common stock sold in the offering on the same terms and conditions. The Company expects to close the offering on March 14, 2024, subject to the satisfaction of customary closing conditions. Titan Partners Group, a division of American Capital Partners, is acting as sole book-running manager for the offering. The gross proceeds to the Company from the offering are expected to be 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. The offering is being 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. The securities may be offered only by means of a prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement was filed with the SEC on March 11, 2024. The final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website. Copies of the preliminary prospectus supplement and the accompanying prospectus, and when available, 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, NY 10007, by phone at (929) 833-1246 or by email at...