Vallon Pharmaceuticals Announces Closing of Initial Public Offering
February 12 2021 - 3:30PM
Vallon Pharmaceuticals Inc. (NASDAQ: VLON) (“Vallon” or 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
closing of its initial public offering of 2,250,000 shares of
common stock at a public price offering of $8.00 per share. The
gross proceeds from the offering, before deducting underwriting
discounts and commissions and other offering expenses payable by
Vallon, were $18.0 million. In addition, Vallon has granted the
underwriters a 45-day option to purchase up to an additional
337,500 shares of Vallon’s common stock at the initial public
offering price, less underwriting discounts and commissions.
Vallon’s common stock began trading on the
Nasdaq Capital Market on February 10, 2021 under the ticker symbol
“VLON.”
ThinkEquity, a division of Fordham Financial
Management, Inc., acted as sole book-running manager for the
offering.
A registration statement relating to the
securities being sold in the offering was declared effective by the
Securities and Exchange Commission (“SEC”) on February 9, 2021.
This offering was made only by means of a prospectus. Copies of the
final prospectus relating to this offering may be obtained from
ThinkEquity, a division of Fordham Financial Management, Inc., 17
State Street, 22nd Floor, New York, NY 10004, by telephone at (877)
436-3673, by email at prospectus@think-equity.com. These documents
may also be obtained free of charge, when they are available, by
visiting the SEC's website at http://www.sec.gov/ 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, LLCJenene
Thomas(833) 475-8247vallon@jtcir.com
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