Vallon Pharmaceuticals Inc. (VLON) Prices 2.25M Share Common Offering at $8/Sh

Vallon Pharmaceuticals, Inc. (NASDAQ: VLON), a clinical-stage biopharmaceutical company primarily focused on the development of novel drugs that are designed to deter abuse in the treatment of CNS disorders, today announced the pricing of its initial public offering of 2,250,000 shares of its common stock at a public offering price of $8.00 per share, for gross proceeds of $18.0 million, before deducting underwriting discounts, commissions and offering expenses. In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 337,500 shares of common stock at the initial public offering price, less the underwriting discount, to cover over-allotments.

The shares are expected to begin trading on The Nasdaq Capital Market on February 10, 2021 under the ticker symbol “VLON.” The offering is expected to close on February 12, 2021, subject to satisfaction of customary closing conditions.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.

A registration statement on Form S-1 (File No. 333-249636) relating to the shares was filed with the U.S. Securities and Exchange Commission (“SEC”), which became effective on February 9, 2021.

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