Vallon Pharmaceuticals Announces Pricing of Initial Public Offering
February 09 2021 - 10:23PM
Vallon Pharmaceuticals, Inc. (the “Company”), a clinical-stage
biopharmaceutical company primarily focused on the development of
novel drugs that are designed to deter abuse in the treatment of
CNS disorders, today announced the pricing of its initial public
offering of 2,250,000 shares of its common stock at a public
offering price of $8.00 per share, for gross proceeds of
$18.0 million, before deducting underwriting discounts,
commissions and offering expenses. In addition, the Company has
granted the underwriter a 45-day option to purchase up to an
additional 337,500 shares of common stock at the initial public
offering price, less the underwriting discount, to cover
over-allotments.
The shares are expected to begin trading on The
Nasdaq Capital Market on February 10, 2021 under the ticker symbol
“VLON.” The offering is expected to close on February 12, 2021,
subject to satisfaction of customary closing conditions.
ThinkEquity, a division of Fordham Financial
Management, Inc., is acting as sole book-running manager for the
offering.
A registration statement on Form S-1 (File No.
333-249636) relating to the shares was filed with the U.S.
Securities and Exchange Commission (“SEC”), which became effective
on February 9, 2021. This offering is being made only by means of a
prospectus. Copies of the final prospectus, when available, may be
obtained from ThinkEquity, a division of Fordham Financial
Management, Inc., at 17 State Street, 22nd Floor, New York, New
York 10004, by telephone at (877) 436-3673, or by email
at prospectus@think-equity.com.
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 an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Vallon Pharmaceuticals Inc.
Vallon Pharmaceuticals Inc. is a clinical-stage
biopharmaceutical company, headquartered in Philadelphia, PA. The
Company is focused on the development of new medications to help
patients with central nervous system (CNS) disorders. The Company’s
lead investigational product candidate, ADAIR, is a novel abuse
deterrent formulation of amphetamine immediate release being
developed for the treatment of ADHD and narcolepsy. Forward
Looking Statements
Statements in this press release contain
“forward-looking statements” that are subject to substantial risks
and uncertainties. All statements, other than statements of
historical fact, contained in this press release are
forward-looking statements. Forward-looking statements contained in
this press release may be identified by the use of words such as
“anticipate,” “believe,” “contemplate,” “could,” “estimate,”
“expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,”
“predict,” “project,” “target,” “aim,” “should,” "will” “would,” or
the negative of these words or other similar expressions, although
not all forward-looking statements contain these words.
Forward-looking statements are based on the Company’s current
expectations and are subject to inherent uncertainties, risks and
assumptions that are difficult to predict. Further, certain
forward-looking statements are based on assumptions as to future
events that may not prove to be accurate. These and other risks and
uncertainties are described more fully in the section titled “Risk
Factors” in the final prospectus related to the public offering
filed with the Securities and Exchange Commission. Forward-looking
statements contained in this announcement are made as of this date,
and the Company undertakes no duty to update such information
except as required under applicable law.
Investor Contact:JTC Team, LLC Jenene Thomas
(833) 475-8247 vallon@jtcir.com
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