CNS Pharmaceuticals Announces Pricing of $4.0 Million Public Offering
Summary
HOUSTON, TX / ACCESSWIRE / January 29, 2024 / CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) ("CNS" or the "Company"), a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers in the brain and central nervous system, today announced the pricing of its "reasonable best efforts" public offering with participation from healthcare-focused institutional investors and certain officers and directors of the Company for the purchase and sale of 13,333,334 shares of common stock (or common stock equivalents in lieu thereof) at a purchase price of $0.30 per share. The Company intends to use the net proceeds of this offering for the Companys CNS-201 trial, for other research and development and for working capital purposes.A.G.P./Alliance Global Partners is acting as the lead placement agent and Maxim Group LLC is acting as the co-placement agent in connection with the offering.The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. An electronic copy of the final prospectus will be filed with the SEC and may be obtained, when available, on the SECs website located at http://www.sec.gov and may also be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.The Company has also agreed that certain existing warrants to purchase up to an aggregate of 3,756,000 shares at an exercise price of $1.28 per share and a termination date of October 16, 2028, will be amended, subject to shareholder approval, so that the amended warrants will have a reduced exercise price of $0.30 per share and a new termination date of February 1, 2029. The other terms of such warrants will remain unchanged.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.About CNS Pharmaceuticals, Inc.CNS Pharmaceuticals a clinical-stage pharmaceutical company developing a pipeline of anti-cancer drug candidates for the treatment of primary and metastatic cancers of the brain and central nervous system. Berubicin is currently in development for the treatment of a number of serious brain and CNS oncology indications including glioblastoma multiforme (GBM), an aggressive and incurable form of brain cancer.For more information, please visit www.CNSPharma.com, and connect with the Company on Twitter, Facebook, and LinkedIn.Forward-Looking StatementsSome of the statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties.