vTv Therapeutics Announces $51 Million Private Placement from Healthcare-focused Institutional Investors and the JDRF T1D Fund
HIGH POINT, N.C., Feb. 28, 2024 (GLOBE NEWSWIRE) — vTv Therapeutics Inc. (Nasdaq:VTVT), a clinical stage biopharmaceutical company focused on the development of cadisegliatin (TTP399) as an adjunctive therapy to insulin for the treatment of type 1 diabetes (“T1D”), today announced that it has closed a private placement to healthcare-focused institutional investors (“the investors”), including a life sciences-focused institutional investor, Samsara BioCapital, LLC (“Samsara”) and the JDRF T1D Fund, of (i) 464,377 shares of common stock at a price of $11.81 per share, which is the 45 day VWAP ended on January 29, 2024, and (ii) pre-funded warrants for 3,853,997 shares of common stock in lieu of vTv common stock in a private placement financing (the “PIPE”). Total gross proceeds of the PIPE were $51 million.