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Aptorum Group raises $9M in public offering

  • Aptorum Group (NASDAQ:APM) has priced its public offering of 2,769,231 Class A ordinary shares and warrants to purchase up to same number of Class A shares, at a combined price of $3.25/share and related warrant, for expected gross proceeds of ~$9M.
  • The five-year warrants have an exercise price of $3.25/share.
  • Net proceeds will be used to conduct further analyses of SACT-1 and ALS-4, for development of pipeline candidates into their respective clinical phases, for working capital and general corporate purposes.
  • H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
  • Current progress of pipeline programs and discovery: 
  • Yesterday's close was $4.76. Shares down 4% after-hours.

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