Soleno Therapeutics Announces Proposed Public Offering of Common Stock and/or Pre-Funded Warrants and a Concurrent Private Placement of Common Stock and/or Pre-Funded Warrants
27 Setembro 2023 - 5:01PM
Soleno Therapeutics, Inc. (Nasdaq:SLNO), (“Soleno” or the
“Company”), a clinical-stage biopharmaceutical company developing
novel therapeutics for the treatment of rare diseases, announced
today that it intends to offer and sell shares of its common stock
and/or pre-funded warrants in an underwritten public offering. In
addition, Soleno intends to grant the underwriters a 30-day option
to purchase an additional number of shares of common stock equal to
15% of the aggregate number of shares of its common stock and/or
pre-funded warrants sold in the public offering. The public
offering is subject to market conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
In connection with the proposed public offering, Soleno intends
to enter into a securities purchase agreement with
certain investors, including entities affiliated with existing
stockholders, for up to $30 million of shares of its common stock
and/or pre-funded warrants at a price per share equal to the public
offering price. The consummation of the concurrent private
placement will be contingent upon the closing of the proposed
public offering.
Guggenheim Securities, LLC, Cantor Fitzgerald & Co. and
Oppenheimer & Co. Inc. are acting as the joint book-running
managers for the public offering and placement agents for the
concurrent private placement.
The securities described above relating to the public offering
are being offered by Soleno pursuant to a registration statement on
Form S-3 (File No. 333-252108) previously filed with, and declared
effective by, the Securities and Exchange Commission (the
“SEC”) on February 9, 2021. A preliminary prospectus supplement and
accompanying prospectus relating to this offering will be filed
with the SEC. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction. When available, copies of the preliminary prospectus
supplement and the accompanying prospectus relating to this
offering may be obtained from Guggenheim Securities, LLC,
Attention: Equity Syndicate Department, 330 Madison Avenue, New
York, NY 10017 or by telephone at (212) 518-9544, or by email at
GSEquityProspectusDelivery@guggenheimpartners.com; from Cantor
Fitzgerald & Co., Attention: Capital Markets, 110 East 59th
Street, 6th Floor, New York, New York 10022, or by e-mail
at prospectus@cantor.com; or from Oppenheimer & Co. Inc.,
Attention: Syndicate Prospectus Department, 85 Broad St., 26th
Floor, New York, New York 10004, by telephone at (212) 667-8055 or
by email at EquityProspectus@opco.com. Electronic copies of
the preliminary prospectus supplement and accompanying prospectus
will also be available on the website of
the SEC at www.sec.gov.
About Soleno Therapeutics, Inc.
Soleno is focused on the development and commercialization of
novel therapeutics for the treatment of rare diseases. The
company’s lead candidate, DCCR (Diazoxide Choline) Extended-Release
tablets, a once-daily oral tablet for the treatment of Prader-Willi
syndrome, recently completed its Phase 3 development program to
support a planned New Drug Application submission.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. All statements other than statements of historical
facts contained in this press release are forward-looking
statements, including statements regarding the Company’s
expectations on the completion, timing and size of the proposed
public offering and the completion and timing of the private
placement. In some cases, you can identify forward-looking
statements by terms such as "may," "will," "should," "expect,"
"plan," "anticipate," "could," "intend," "target," "project,"
"contemplates," "believes," "estimates," "predicts," "potential" or
"continue" or the negative of these terms or other similar
expressions. These forward-looking statements speak only as of the
date of this press release and are subject to a number of risks,
uncertainties and assumptions, including the risks and
uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the
proposed public offering and concurrent private placement, as well
as risks and uncertainties inherent in Soleno’s business, including
those described in the company's prior press releases and in the
periodic reports it files with the SEC. The events and
circumstances reflected in the company's forward-looking statements
may not be achieved or occur and actual results could differ
materially from those projected in the forward-looking statements.
Except as required by applicable law, the company does not plan to
publicly update or revise any forward-looking statements contained
herein, whether as a result of any new information, future events,
changed circumstances or otherwise.
Corporate Contact:
Brian RitchieLifeSci Advisors, LLC212-915-2578
Soleno Therapeutics (NASDAQ:SLNO)
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