Aprinoia Therapeutics, a biotech company focusing on neurodegenerative diseases like Alzheimer’s and progressive supranuclear palsy (PSP), recently announced terms for its upcoming initial public offering, aiming to raise $24 million.
The company plans to offer 2 million ordinary shares priced between $10 to $14 per share. Should the pricing land at the midpoint, the offering would gather the intended $24 million. Additionally, underwriters will have the option to purchase an extra 300,000 shares within 45 days to cover potential over-allotments.
Aprinoia, with hopes to list its shares on Nasdaq under the symbol APRL, has tapped US Tiger Securities as the lead bookrunner for the IPO. The company originally submitted its IPO filing in January and is making strides towards its listing.
Headquartered in Cambridge, Massachusetts, Aprinoia is actively involved in the development of innovative diagnostic tools and treatments for neurodegenerative conditions, including Alzheimer’s. Their flagship product, APN-1607, is currently undergoing Phase 3 clinical trials as a PET diagnostic tracer for PSP and Alzheimer’s. Furthermore, the company has a therapy candidate in Phase 1 trials for these debilitating diseases.
In a noteworthy turn of events, Aprinoia previously entered into an acquisition agreement with Ross Acquisition Corp. II, associated with prominent figures like Wilbur Ross and Larry Kudlow. However, this deal fell through in August, setting the stage for Aprinoia’s independent public offering.
Additional Information on APRINOIA Therapeutics Inc.