Soleno Therapeutics prices 2.35M sharesat $85.00 in public offering

Soleno Therapeutics (SLNO) priced its previously announced underwritten public offering of 2,352,941 shares of its common stock at a price to the public of $85.00 per share. All of the shares are being sold by Soleno. In addition, Soleno has granted the underwriters a 30-day option to purchase up to an additional 352,941 shares of its common stock at the public offering price. The gross proceeds from the offering are expected to be approximately $200M before deducting underwriting discounts and commissions and other offering expenses, assuming no exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about July 11, subject to satisfaction of customary closing conditions. Goldman Sachs & Co., Guggenheim Securities, TD Cowen, Cantor and Oppenheimer & Co. are acting as joint book-running managers for the public offering. Soleno intends to use the net proceeds from this offering to fund the commercialization of VYKAT XR. Soleno also intends to use the proceeds from the public offering to fund its regulatory and market development activities in the European Union and further research and development efforts, as well as general corporate purposes.