Alto Neuroscience Announces Closing of Upsized Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
February 06 2024 - 3:05PM
Business Wire
Alto Neuroscience, Inc. (“Alto”) (NYSE: ANRO) today announced
the closing of its previously announced upsized initial public
offering of 9,246,000 shares of common stock, which includes the
exercise in full by the underwriters of their option to purchase
1,206,000 additional shares, at a public offering price of $16.00
per share. The aggregate gross proceeds to Alto from the offering
were approximately $147.9 million before deducting underwriting
discounts and commissions and other offering expenses payable by
Alto. All of the shares of common stock were offered by Alto.
Alto’s common stock is listed on the New York Stock Exchange under
the ticker symbol “ANRO.”
Jefferies, TD Cowen, Stifel and William Blair acted as joint
book-running managers for the offering. Baird acted as lead manager
for the offering.
Registration statements relating to these securities have been
filed with the Securities and Exchange Commission (the “SEC”) and
became effective on February 1, 2024. A prospectus relating to and
describing the terms of the offering has been filed with the SEC
and is available on the SEC’s website at www.sec.gov. The offering
was made only by means of a written prospectus. A copy of the final
prospectus relating to the offering may be obtained from: Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by
email at Prospectus_Department@Jefferies.com; Cowen and Company,
LLC, 599 Lexington Avenue, New York, NY 10022, by telephone at
(833) 297-2926, or by e-mail at Prospectus_ECM@cowen.com; Stifel,
Nicolaus & Company, Incorporated, Attention: Syndicate, One
Montgomery Street, Suite 3700, San Francisco, CA 94104, by
telephone at (415) 364-2720, or by e-mail at
syndprospectus@stifel.com; or William Blair & Company, L.L.C.,
Attention: Prospectus Department, 150 North Riverside Plaza,
Chicago, IL 60606, by telephone at (800) 621-0687, or by email at
prospectus@williamblair.com.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy these securities, 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 Alto Neuroscience
Alto Neuroscience is a clinical-stage biopharmaceutical company
with a mission to redefine psychiatry by leveraging neurobiology to
develop personalized and highly effective treatment options. Alto’s
Precision Psychiatry Platform™ measures brain biomarkers by
analyzing EEG activity, neurocognitive assessments, wearable data,
and other factors to better identify which patients are more likely
to respond to Alto product candidates. Alto’s clinical-stage
pipeline includes novel drug candidates in depression, PTSD,
schizophrenia, and other mental health conditions.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240206574269/en/
Investor Contact: Nick Smith
corporate@altoneuroscience.com
Media Contact: Jordann Merkert
media@altoneuroscience.com
Alto Neuroscience (NYSE:ANRO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Alto Neuroscience (NYSE:ANRO)
Historical Stock Chart
From Sep 2023 to Sep 2024