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

MALVERN, PA, Feb. 04, 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 closing of its previously announced 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 and associated warrant. The warrants have an exercise price of $5.00 per share and are immediately exercisable upon issuance for a period of five years following the date of issuance. Total gross proceeds from the offering, before deducting the underwriter’s discounts and other offering expenses, were $21 million.

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