Annovis Bio, Inc. Announces Pricing of $21 Million Public Offering

MALVERN, Pa., Feb. 03, 2025 (GLOBE NEWSWIRE) -- via IBN – Annovis Bio, Inc. (NYSE: ANVS) (“Annovis” or the “Company”), a late-stage clinical drug platform company pioneering transformative therapies for neurodegenerative diseases such as Alzheimer’s disease (AD) and Parkinson’s disease (PD), today announced the pricing of an underwritten public offering of 5,250,000 shares of common stock and warrants to purchase 5,250,000 shares of common stock at a combined public offering price of $4.00 per share. The warrants will have an exercise price of $5.00 per share and will be immediately exercisable upon issuance for a period of five years following the date of issuance. All of the common shares and associated warrants in the offering are being offered by the Company. Total gross proceeds from the offering, before deducting underwriters discounts and other offering expenses, are expected to be $21 million. The offering is expected to close on February 4, 2025, subject to satisfaction of customary closing conditions

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