Virios Therapeutics Announces Closing of Initial Public Offering and Full Exercise of Underwriter’s Over-Allotment Option
December 21 2020 - 3:00PM
Business Wire
Virios Therapeutics, Inc. (Nasdaq: VIRI), a biotechnology
company focused on advancing novel antiviral therapies to treat
diseases associated with a viral triggered abnormal immune
response, today announced the closing of its initial public
offering of 3,450,000 shares of its common stock at a public
offering price of $10.00 per share, which includes 450,000 shares
sold upon full exercise of the underwriter’s option to purchase
additional common shares. The gross proceeds from the offering,
including the exercise of the over-allotment option, were
$34,500,000, before deducting underwriting discounts, commissions
and offering expenses.
ThinkEquity, a division of Fordham Financial Management, Inc.,
acted as sole book-running manager for the offering.
A registration statement on Form S-1 (File No. 333-248447)
relating to the shares was filed with the Securities and Exchange
Commission (“SEC”) and became effective on December 16, 2020. This
offering is being made only by means of a prospectus. Copies of the
final prospectus may be obtained from ThinkEquity, a division of
Fordham Financial Management, Inc., 17 State Street, 22nd Floor,
New York, New York 10004, by telephone at (877) 436-3673, 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 Virios Therapeutics
Virios Therapeutics is a development-stage biotechnology company
focused on advancing novel antiviral therapies to treat diseases
associated with a viral triggered abnormal immune response, such as
fibromyalgia (“FM”). Overactive immune response related to
activation of tissue resident Herpes Simplex Virus-1 (“HSV-1”) has
been postulated to be a potential root cause of chronic illnesses
such as FM, irritable bowel disease (“IBS”), chronic fatigue
syndrome and functional somatic syndrome, all of which are
characterized by a waxing and waning manifestation of disease.
While not completely understood, there is general agreement in the
medical community that activation of HSV-1 is triggered by some
form of environmental and/or health stressor. Our lead development
candidate (“IMC-1”), is a novel, proprietary, fixed dose
combination of famciclovir and celecoxib. IMC-1 represents a novel
combination antiviral therapy designed to synergistically suppress
HSV-1 activation and replication, with the end goal of reducing
viral mediated disease burden.
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 Virios Therapeutics’ 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 Virios
Therapeutics, Inc. undertakes no duty to update such information
except as required under applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20201221005697/en/
Jenny Kobin IR@Virios.com
Virios Therapeutics (NASDAQ:VIRI)
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