HOUSTON, Nov. 7, 2019 /PRNewswire/ -- CNS Pharmaceuticals, Inc. ("Company"), a pre-clinical stage biotechnology company specializing in the development of novel treatments for brain tumors, today announced the pricing of its initial public offering of 2,125,000 shares of common stock at an offering price of $4.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to be $8.5 million. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 318,750 shares of common stock at the initial price to the public less underwriting discounts and commissions.
The common stock is expected to begin trading on the NASDAQ Capital Market on November 8, 2019 under the symbol CNSP. The offering is expected to close on November 13, 2019, subject to customary closing conditions.
The Benchmark Company, LLC is acting as sole Book Running Manager for the offering.
A registration statement on Form S-1 (File No. 333-232443) relating to the shares was filed with the Securities and Exchange Commission ("SEC") and became effective on November 7, 2019. The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from The Benchmark Company, LLC, Attn: Prospectus Department, 150 E 58th Street, 17th floor, New York, NY 10155, 212-312-6700, Email: firstname.lastname@example.org.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About CNS Pharmaceuticals, Inc.
CNS Pharmaceuticals is a pre-clinical stage biotechnology company specializing in the development of novel treatments for brain tumors.
CNS Pharmaceuticals, Inc.
SOURCE CNS Pharmaceuticals, Inc.