Acurx Pharmaceuticals announces closing of initial public offering of common stock
Acurx Pharmaceuticals Incorporated, a clinical stage biopharmaceutical company committed to the development of a novel class of antibiotics to treat complex bacterial infections, has declared the closing of its earlier announced underwritten initial public offering. The offering consists of 2,875,000 newly-issued shares of common stock, and includes the full exercise by the underwriters of their option to purchase 375,000 additional shares of common stock. The price to the public is at $6.00 per each share.
The newly-issued Acurx Pharmaceuticals shares are registered under the ticker “ACXP” on the Nasdaq Capital Market. The net proceeds to the biotech company from the offering were approximately $14.8 million, after deducting the underwriter discounts, as well as commissions and estimated offering expenses. For the offering, Alexander Capital L.P. acted as lead book-running manager. Network 1 Financial Securities, Inc. acted as co-manager.
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