Business
Soleno Therapeutics Announces Proposed Public Offering of Common Stock and/or Pre-Funded Warrants and a Concurrent Private Placement of Common Stock and/or Pre-Funded Warrants
REDWOOD CITY, Calif., Sept. 27, 2023 (GLOBE NEWSWIRE) -- Soleno Therapeutics, Inc. (Nasdaq:SLNO), (“Soleno” or the “Company”), a clinical-stage
About this update from Soleno Therapeutics, Inc.
[{"type":"text","content":"REDWOOD CITY, Calif., Sept. 27, 2023 (GLOBE NEWSWIRE) -- Soleno Therapeutics, Inc. (Nasdaq:SLNO), (“Soleno” or the “Company”), a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of rare diseases, announced today that it intends to offer and sell shares of its common stock and/or pre-funded warrants in an underwritten public offering. In addition, Soleno intends to grant the underwriters a 30-day option to purchase an additional number of shares of common stock equal to 15% of the aggregate number of shares of its common stock and/or pre-funded warrants sold in the public offering. The public offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. In connection with the proposed public offering, Soleno intends to enter into a securities purchase agreement with certain investors, including entities affiliated with existing stockholders, for up to $30 million of shares of its common stock and/or pre-funded warrants at a price per share equal to the public offering price. The consummation of the concurrent private placement will be contingent upon the closing of the proposed public offering. Guggenheim Securities, LLC, Cantor Fitzgerald & Co. and Oppenheimer & Co. Inc. are acting as the joint book-running managers for the public offering and placement agents for the concurrent private placement. The securities described above relating to the public offering are being offered by Soleno pursuant to a registration statement on Form S-3 (File No. 333-252108) previously filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”) on February 9, 2021. A preliminary prospectus supplement and accompanying prospectus relating to this offering will be filed with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Guggenheim Securities, LLC, Atte...