Anebulo Pharmaceuticals, Inc. (ANEB) Prices 3M Share IPO at $7/Sh

May 7, 2021 5:59 AM EDT

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Anebulo Pharmaceuticals, Inc. (NASDAQ: ANEB) (“Anebulo” or the “Company”), a clinical-stage biotechnology company developing novel solutions for people suffering from cannabinoid overdose and substance addiction, today announced the pricing of its initial public offering of 3,000,000 shares of common stock at a public offering price of $7.00 per share. The gross proceeds from the offering to the Company, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to be approximately $21.0 million. In addition, the Company has granted the underwriter a 30-day option to purchase from the Company up to an additional 450,000 shares of common stock to cover over-allotments, if any, at the initial public offering price, less underwriting discounts and commissions.

The Company’s common stock is expected to begin trading on The Nasdaq Capital Market on May 7, 2021 under the ticker symbol “ANEB.” The offering is expected to close on May 11, 2021, subject to customary closing conditions.

The Benchmark Company, LLC is acting as sole Book Running Manager for the offering.

A registration statement on Form S-1 (File No. 333-254979) relating to the shares was filed with the U.S. Securities and Exchange Commission (the "SEC") and became effective on May 6, 2021.

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