India, June 10 -- On Wednesday, CervoMed Inc. (CRVO), a biotechnology company specialized in brain disorder treatment, announced that it has entered into a definitive securities purchase agreement for a private placement, expecting gross proceeds of approximately $10.5 million.
Each unit includes either one share of common stock or one pre-funded warrant, along with Series B and Series C warrants. The Series B warrants can be exercised at $3.32 per share and will expire on June 11, 2031. The Series C warrants have an exercise price of $3.14 per share and will expire on June 11, 2027. If fully exercised for cash, the warrants could generate up to an additional $21.7 million in gross proceeds.
The private placement funding was led by severa...