CNS Pharmaceuticals prices 650,000 shares at $2.30 in private placement

CNS Pharmaceuticals (CNSP) entered into securities purchase agreements for a private placement financing that is expected to result in gross proceeds of approximately $22.5M to the Company, before placement agent fees and offering expenses. The private placement includes participation from institutional healthcare investors, including ADAR1 Capital, Ikarian Capital, Stonepine Capital Management and Nazare Partners. Pursuant to the terms of the securities purchase agreements, CNS is selling an aggregate of 650,000 shares of its common stock at a purchase price of $2.30 per share and pre-funded warrants to purchase 9,143,479 shares of Common Stock at a purchase price of $2.299 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.001 per share. The private placement is expected to close on or about May 5, subject to satisfaction of customary closing conditions. A.G.P./Alliance Global Partners acted as the sole placement agent for the transaction.