Date: 2015-01-14
Type of information: Private placement
Company: Alcobra (Israel)
Investors: Venrock (USA - CA), Deerfield (USA - NY), Broadfin Capital (USA - NY), Great Point Partners (USA - CT)
Amount: $27.9 million
Funding type: private placement
Planned used: Alcobra is developing MDX, a proprietary non-stimulant for the treatment of cognitive disorders including Attention Deficit Hyperactivity Disorder (ADHD) and Fragile X Syndrome. Alcobra plans to use the net proceeds from the offering to fund its future clinical development program and for general corporate purposes.
Others: * On January 14, 2015, Alcobra reported that it has closed its previously announced public offering of ordinary shares. The Company sold 7,475,000 ordinary shares in the offering, including 975,000 shares that were issued upon the full exercise by the underwriters of their over-allotment option. The offering price was $4.00 per share, and the net proceeds to the Company from the sale of the shares were approximately $27.9 million. Investors in the offering included Venrock, Deerfield, Broadfin Capital, Great Point Partners and others. * On January 9, 2015, Alcobra announced the pricing of its previously announced underwritten public offering of 6,500,000 ordinary shares at an offering price of $4 per share. Gross proceeds from the sale of the shares by Alcobra before underwriting discounts and commissions and other offering expenses are expected to be approximately $26 million. The offering is expected to close on January 14, 2015, subject to customary closing conditions. In connection with the offering, Alcobra has also granted the underwriters a 30-day option to purchase up to an additional 15% of the ordinary shares offered to the public to cover over-allotments, if any.Piper Jaffray & Co. is acting as the sole manager. * On January 8, 2015, Alcobra announced that it intends to offer its ordinary shares in an underwritten public offering. The 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. Alcobra also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the ordinary shares offered to the public to cover over-allotments, if any.
Therapeutic area: CNS diseases - Mental diseases - Genetic diseases - Rare diseases
