Business
Soleno Therapeutics Announces Pricing of $13.4 Million Public Offering of Common Stock
REDWOOD CITY, Calif., Oct. 23, 2019 (GLOBE NEWSWIRE) -- Soleno Therapeutics, Inc. (SLNO), (“Soleno” or the “Company”), a clinical-stage biopharmaceutical
About this update from Soleno Therapeutics, Inc.
[{"type":"text","content":"REDWOOD CITY, Calif., Oct. 23, 2019 (GLOBE NEWSWIRE) -- Soleno Therapeutics, Inc. (SLNO), (“Soleno” or the “Company”), a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of rare diseases, today announced the pricing of an underwritten public offering of 11,166,667 shares of its common stock at a public offering price of $1.20 per share. The gross proceeds of the offering are expected to be approximately $13.4 million, before deducting the underwriting discount and other estimated offering expenses. \n Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering. Roth Capital Partners and Laidlaw & Company (UK) Ltd. are acting as co-managers for the offering. The closing of the offering is expected to occur on or about October 25, 2019, subject to the satisfaction of customary closing conditions. The Company has also granted the underwriters a 30-day option to purchase up to 1,675,000 additional shares of common stock, at the public offering price, less underwriting discounts and commissions. Soleno currently intends to use the net proceeds from the offering primarily for working capital and general corporate purposes, including, without limitation, development of our product candidates, and general and administrative expenses. The offering is being conducted pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-232068) previously filed with and subsequently declared effective by the Securities and Exchange Commission (the “SEC”) on July 23, 2019 and a preliminary prospectus supplement filed with the SEC on October 22, 2019. A final prospectus supplement and an accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. When available, electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad St., 26th Floor, New York, NY 10004, by telephone at (212) 667-8055 or by email at [email protected]. Before investing in the offering, you should read the prospectus supplement and the accompanying prospectus, and the other documents that Soleno has filed with the SEC that are incorporated by reference in the...