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Alpha Cognition Announces Final Closing of Private Placement Offering and Completion of the Overallotment
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Alpha Cognition Inc. has completed a final closing for its private placement, issuing 16,965,762 units at a price of US$0.22 per unit for gross proceeds of US$3,732,467. The Company expects to use the net proceeds for research and development, general and administrative matters, and working capital.
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VANCOUVER, British Columbia--(BUSINESS WIRE)--
Alpha Cognition Inc. (CSE: ACOG, OTCQB: ACOGF) (“Alpha Cognition” or the “Company”) announces that it has completed a final closing pursuant to its previously announced private placement of units of the Company. Pursuant to the final closing, the Company issued 16,965,762 units of the Company at a price of US$0.22 per unit for gross proceeds of US$3,732,467. Each unit consists of a common share and a warrant, with each warrant entitling the holder to purchase an additional common share at a price of US$0.31 for a period of three years. The gross proceeds of the offering received to date are US$8.45 million, which includes shares of the fully subscribed 30% overallotment. The Company expects to use the net proceeds from the private placement for research and development, general and administrative matters, and working capital.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws, and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
What is the ticker symbol for Alpha Cognition Inc.?
The ticker symbol for Alpha Cognition Inc. is ACOGF.
How many units were issued in the private placement?
The Company issued 16,965,762 units in the private placement.
At what price were the units issued?
The units were issued at a price of US$0.22 per unit.
What are the intended uses of the net proceeds from the private placement?
The net proceeds from the private placement are expected to be used for research and development, general and administrative matters, and working capital.
