CervoMed closes $10M stock offering at $4.00 per share

CervoMed Inc. (NASDAQ: CRVO), a clinical-stage biotechnology company, closed a registered direct offering of 2,500,000 shares of common stock at $4.00 per share, generating $10 million in gross proceeds before placement agent fees and other expenses, according to a press release.

H.C. Wainwright & Co. served as the exclusive placement agent for the offering. The company stated it intends to use the net proceeds for working capital and general corporate purposes.

The shares were offered under a shelf registration statement on Form S-3 declared effective by the Securities and Exchange Commission on Oct. 10, 2024.

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