MALVERN, PA — Annovis Bio, Inc. (NYSE: ANVS) has revealed plans to conduct an underwritten public offering of common stock and warrants. The company will sell all offered securities directly, with ThinkEquity serving as the sole book-running manager for the transaction.
The offering includes a provision granting the underwriter a 45-day option to purchase up to an additional 15% of the shares of common stock and/or warrants sold to cover any over-allotments. However, the completion of the offering remains contingent on market conditions, with no guarantees regarding its execution, size, or terms.
Proceeds from the planned offering will largely be allocated to working capital, general corporate expenses, and the ongoing clinical development of Annovis Bio’s lead compound, Buntanetap.
The securities will be offered under a shelf registration statement on Form S-3, which was filed with the SEC on February 1, 2024, and declared effective on February 12, 2024. The offering will proceed exclusively through a written prospectus.
Annovis Bio emphasized that this announcement does not constitute an offer to sell or a solicitation to buy these securities in any jurisdiction where such offers or sales would be prohibited by law.
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