Minerva Neurosciences Closes $20 Million PP Priced at a Premium to Market

June 28, 2023

(24/7 MARKET NEWS) – Minerva Neurosciences, Inc. (NASDAQ:NERV) stated, this morning, that it agreed to sell an aggregate of 1,425,000 shares of its common stock at a purchase price of $10 per share and pre-funded warrants to purchase an aggregate of 575,575 shares of its common stock at a purchase price of $9.99 per pre-funded warrant, to Boehringer Ingelheim and Federated Hermes Kaufmann Funds. Minerva expects that the gross proceeds from the PIPE will be approximately $20 million, before deducting PIPE-related expenses payable by Minerva, and intends to use the net proceeds from the PIPE to support potential regulatory approval in the U.S., commercialization activities and market launch of roluperidone, which is being developed for the treatment of negative symptoms in schizophrenia.

Minerva Neurosciences is trading at $7.69, up $1.67 (+27.74%), on 313.8K premarket shares traded.

Its 52-week range is $1.26 to $15.27. If it can trade above $8, on stronger trading volume, it has a gap to the $12 level.

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