Avenue Therapeutics prices 16.6M units at 30.06c in public offering

Avenue Therapeutics announced the pricing of its public offering of an aggregate of 16,633,400 units at a public offering price of $0.3006 per unit. Each unit consists of one share of common stock, one Series A warrant to purchase one share of common stock, immediately exercisable at a price of $0.3006 per share and expiring five years from the date of issuance, and one Series B warrant to purchase one share of common stock, immediately exercisable at a price of $0.3006 per share and expiring eighteen months from the date of issuance. The gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses, are expected to be approximately $5.0 million. Maxim Group LLC and Lake Street Capital Markets, LLC are acting as placement agents for the offering. The closing of the offering is expected to occur on or about November 2, 2023, subject to the satisfaction of customary closing conditions.