CNS Pharmaceuticals (CNSP) has released an update to notify the public and investors about an entry into a material definitive agreement.
On January 29, 2024, the Company initiated a public offering through a placement agency agreement, offering shares of common stock, pre-funded warrants, and Series A and B warrants, collectively referred to as Warrants. The offering price was set at $0.30 for a share and accompanying common warrants, and $0.299 for a pre-funded warrant with common warrants. The gross proceeds from the offering were approximately $3.7 million, intended for funding the CNS-201 trial and other corporate purposes. The company also agreed to certain restrictions on issuing new securities for specified periods post-closing and amended existing warrants subject to shareholder approval. The offering was made under a previously filed and effective Registration Statement and involved payment of fees and reimbursement of expenses to the placement agents.
For further insights into CNSP stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
