NEW YORK, Nov. 29, 2021 /PRNewswire/ -- AeroClean
Technologies, Inc. (Nasdaq: AERC) today announced the closing
of its initial public offering of 2,514,000 shares of common stock
at a public offering price of $10.00
per share. The offering included the sale of 14,000 shares in
connection with the partial exercise by the underwriters of their
over-allotment option. The company's common stock trades on
the Nasdaq Capital Market under the ticker symbol "AERC".
The Benchmark Company, LLC, HCFP/Capital Markets LLC and
Valuable Capital Limited acted as Joint Bookrunning Managers for
the offering.
Freshfields Bruckhaus Deringer US LLP acted as counsel to the
company. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted
as counsel to the underwriters.
AeroClean Technologies expects to use the proceeds of the
offering for supporting the build-out of its organization, funding
the production of its air purification devices, establishing its
consumables and services business and supporting its product
development efforts for its high priority initiatives.
An offering statement relating to the shares of common stock was
filed with the U.S. Securities and Exchange Commission ("SEC") and
became qualified on November 23,
2021. An offering circular relating to the offering was
filed with the SEC and is available on the SEC's website at
http://www.sec.gov. Copies of the offering circular may be obtained
by contacting: The Benchmark Company, LLC, Attention: Prospectus
Department, 150 E. 58th Street, 17th Floor, New York, NY 10155, by calling (212) 312-6700
or by e-mail at prospectus@benchmarkcompany.com.
This press release shall not constitute an offer to sell or the
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 of these securities under the securities laws of any
such state or jurisdiction.
About AeroClean Technologies
AeroClean is a pathogen elimination technology company on a
mission to keep work, play and life going—with continuous air
sanitization products called, Pūrgo™ (pure-go). We create solutions
for hospitals, offices and many shared spaces as well as elevators,
aircraft and more. Pūrgo™ products feature SteriDuct™, a
proprietary technology developed by our best-in-class aerospace
engineers, medical scientists and innovators. Powered by
SteriDuct™, our solutions are medical-grade, eradicating viral,
fungal and bacterial airborne pathogens. Our purpose is simple: to
never stop innovating solutions that keep people healthy and safe,
so life never stops.
Forward-Looking Statements
This press release may include forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
statements that are not historical facts. Such forward-looking
statements are subject to risks (including those set forth in the
company's offering circular filed with the U.S. Securities and
Exchange Commission) and uncertainties that could cause actual
results to differ from the forward-looking statements. The company
expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Investors should realize that if our underlying assumptions for the
projections contained herein prove inaccurate or that known or
unknown risks or uncertainties materialize, actual results could
vary materially from our expectations and projections.
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SOURCE AeroClean Technologies, Inc.