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Alpha Cognition Announces Proposed Financing and Share Consolidation in connection with Nasdaq Uplisting

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Alpha Cognition announces a planned US$25 million public offering of common shares and pre-funded warrants in connection with its application to uplist to the Nasdaq Capital Market. The company will implement a 1-for-25 reverse stock split to meet Nasdaq's minimum share price requirements. Proceeds will support the company's New Drug Application, commercialization of ZUNVEYL for Alzheimer's disease, pipeline development, CMC activities, and general corporate purposes. The offering will be conducted through Titan Partners Group, pending SEC registration statement effectiveness and Nasdaq listing approval.

Alpha Cognition annuncia un'offerta pubblica pianificata di 25 milioni di dollari per azioni ordinarie e warrant pre-finanziati, in relazione alla sua richiesta di quotazione al Nasdaq Capital Market. L'azienda realizzerà uno scorporo azionario inverso di 1 per 25 per soddisfare i requisiti di prezzo minimo delle azioni del Nasdaq. I proventi sosterranno la richiesta di nuovo farmaco dell'azienda, la commercializzazione di ZUNVEYL per la malattia di Alzheimer, lo sviluppo della pipeline, le attività CMC e scopi aziendali generali. L'offerta sarà condotta tramite Titan Partners Group, in attesa dell'efficacia della registrazione SEC e dell'approvazione per la quotazione al Nasdaq.

Alpha Cognition anuncia una oferta pública planificada de 25 millones de dólares en acciones comunes y warrants prefinanciados en relación con su solicitud para listar en el Nasdaq Capital Market. La empresa llevará a cabo un desdoblamiento de acciones inverso de 1 por 25 para cumplir con los requisitos de precio mínimo por acción de Nasdaq. Los ingresos apoyarán la Solicitud de Nuevo Medicamento de la empresa, la comercialización de ZUNVEYL para la enfermedad de Alzheimer, el desarrollo de la cartera, las actividades de CMC y propósitos corporativos generales. La oferta se llevará a cabo a través de Titan Partners Group, pendiente de la efectividad de la declaración de registro de la SEC y la aprobación de la lista del Nasdaq.

Alpha CognitionNasdaq Capital Market에 상장하기 위한 신청과 관련하여 2500만 달러 규모의 보통주 및 사전 자금 지원 워런트 공개 발행을 계획하고 있습니다. 회사는 Nasdaq의 최소 주가 요건을 충족하기 위해 1대 25의 주식 병합을 시행할 것입니다. 이 자금은 회사의 새로운 약물 신청, 알츠하이머 병을 위한 ZUNVEYL의 상용화, 파이프라인 개발, CMC 활동 및 일반 기업 목적을 지원합니다. 이 발행은 SEC 등록statement의 유효성 및 Nasdaq 상장 승인을 대기하며 Titan Partners Group를 통해 진행될 것입니다.

Alpha Cognition annonce une offre publique prévue de 25 millions de dollars en actions ordinaires et en warrants préfinancés dans le cadre de sa demande de liste sur le Nasdaq Capital Market. L'entreprise mettra en œuvre un regroupement d'actions inversé au ratio de 1 pour 25 pour répondre aux exigences de prix minimum des actions du Nasdaq. Les produits soutiendront la demande de nouveau médicament de l'entreprise, la commercialisation de ZUNVEYL pour la maladie d'Alzheimer, le développement de la pipeline, les activités CMC et d'autres objectifs corporatifs généraux. L'offre sera effectuée par l'intermédiaire de Titan Partners Group, en attendant l'efficacité de la déclaration d'enregistrement de la SEC et l'approbation de la cotation du Nasdaq.

Alpha Cognition kündigt ein geplantes öffentliches Angebot von 25 Millionen US-Dollar für Stammaktien und vorfinanzierte Optionen im Zusammenhang mit ihrem Antrag auf Listung am Nasdaq Capital Market an. Das Unternehmen wird einen Reverse-Split im Verhältnis 1 zu 25 durchführen, um die Mindestpreisanforderungen von Nasdaq zu erfüllen. Die Erlöse werden die New Drug Application des Unternehmens, die Kommerzialisierung von ZUNVEYL zur Behandlung der Alzheimer-Krankheit, die Entwicklung der Produktpipeline, CMC-Aktivitäten und allgemeine Unternehmenszwecke unterstützen. Das Angebot wird über Titan Partners Group durchgeführt, sofern die SEC-Registrierungserklärung wirksam ist und die Nasdaq-Listgenehmigung erteilt wird.

Positive
  • Potential uplisting to Nasdaq Capital Market, providing increased visibility and liquidity
  • Planned US$25 million financing to fund key business initiatives
  • Strategic focus on ZUNVEYL commercialization for Alzheimer's market
Negative
  • 1-for-25 reverse stock split indicating significant share consolidation
  • Dilution of existing shareholders through new share offering
  • Offering contingent on Nasdaq approval, creating execution risk

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Alpha Cognition Inc. (CSE: ACOG) (OTCQB: ACOGF) (“Alpha Cognition”, or the “Company”), is pleased to announce that it has filed a registration statement on Form S-1 (the “Registration Statement”) with the U.S. Securities and Exchange Commission relating to a firm commitment public offering of common shares and pre-funded warrants (collectively, the “Securities”) for gross proceeds of approximately US$25 million (the “Offering”). The Offering is being conducted in conjunction with an application to uplist the Company’s common shares on the Nasdaq Capital Market (“Nasdaq”).

Each pre-funded warrant is exercisable to purchase one common share at an exercise price of US$0.0001 and may be exercised at any time until all of the pre-funded warrants are exercised in full.

The Offering will be conducted through Titan Partners Group, a division of American Capital Partners. Completion of the Offering will be subject to market and other customary conditions and final approval of the listing of the common shares on the Nasdaq.

The Company intends to use the net proceeds it will receive from the Offering to: (i) fund support of the Company’s filed New Drug Application; (ii) begin its efforts toward commercialization and launch of ZUNVEYLTM in Alzheimer’s disease; (iii) conduct further research and development of the Company’s pipeline product candidates; (iv) continue commercial CMC activities (chemistry, manufacturing, and controls); and (v) supplement working capital and fund general corporate purposes, which may include funding capital expenditures, acquisitions, and investments.

A Registration Statement on Form S-1 relating to the Securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) but has not yet become effective. The Securities may not be sold, nor may offers to buy be accepted, prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the Securities will be made only by means of the preliminary prospectus contained in the Registration Statement and the final prospectus that the Company intends to file with the SEC. Copies of the preliminary prospectus, and when available, the final prospectus relating to the offering may be obtained via the SEC’s website at www.sec.gov and from Titan Partners Group, a division of American Capital Partners, at 4 World Trade Center, 29th Floor, New York, NY 10007, by telephone at (929) 833-1246 or by email to info@titanpartnersgrp.com.

Nasdaq Uplisting

The Company also announces that it has applied to uplist its common shares on the Nasdaq concurrently with closing of the Offering. The listing of the Company’s common shares on Nasdaq remains subject to the satisfaction of all applicable listing and regulatory requirements. If the application to Nasdaq is not approved or the Company otherwise determines that it will not be able to secure the listing of the common shares on Nasdaq, the Company will not complete the Offering.

Reverse Stock Split

In connection with the application to uplist on the Nasdaq, the Company will complete a reverse stock split with a stock split ratio of 1 for 25 of its issued and outstanding common shares. There is no name change or stock symbol change in connection with the reverse stock split. The new CUSIP and ISIN numbers are 02074J501 and CA02074J5017 respectively. The Company anticipates affecting the reverse stock split at the open of markets on November 5, 2024. The CSE will issue a bulletin. The reverse stock split is intended to allow the Company to meet the minimum share price requirements of the Nasdaq. Shareholders holding a physical share certificate will receive a letter of transmittal from Computershare Investor Services which may be used to request a new share certificate reflecting the reverse stock split. Fractional shares will be rounded up or down to the nearest whole share. The Company’s issued and outstanding Class B Preferred Series A Shares, performance shares, stock options and warrants will be adjusted to reflect the reverse stock split in accordance with their respective terms.

About Alpha Cognition Inc.

Alpha Cognition Inc. is a commercial stage, biopharmaceutical company dedicated to developing treatments for patients suffering from neurodegenerative diseases, such as Alzheimer’s disease and Cognitive Impairment with mild Traumatic Brain Injury (“mTBI”), for which there are currently no approved treatment options.

ZUNVEYL is a patented drug approved as a new generation acetylcholinesterase inhibitor (AChEI) for the treatment of Alzheimer’s disease, with expected minimal gastrointestinal side effects. ZUNVEYL’s active metabolite is differentiated from donepezil and rivastigmine in that it improves the function of neuronal nicotinic receptors, most notably the alpha-7 subtype, which is known to have a positive effect on cognition. Benzgalantamine is also being developed in combination with memantine to treat moderate to severe Alzheimer’s dementia, and as an intranasal formulation for Cognitive Impairment with mTBI.

Neither Canadian Securities Exchange or the OTC Markets Group, accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statements

This news release includes forward-looking statements within the meaning of applicable securities laws. Except for statements of historical fact, any information contained in this news release may be a forward‐looking statement that reflects the Company’s current views about future events and are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In some cases, you can identify forward‐looking statements by the words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “target,” “seek,” “contemplate,” “continue” and “ongoing,” or the negative of these terms, or other comparable terminology intended to identify statements about the future. Forward‐looking statements may include statements regarding the anticipated Offering and terms related thereto, potential closing of the Offering, effectiveness of the Registration Statement, the use of proceeds of the Offering, receipt of regulatory and stock exchange approvals in connection with Offering, completion of the Nasdaq uplisting and completion of the reverse stock split. Although the Company believes to have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. The Company cannot assure that the actual results will be consistent with these forward-looking statements. These forward‐looking statements speak only as of the date of this news release and the Company undertakes no obligation to revise or update any forward‐looking statements for any reason, even if new information becomes available in the future.

For further information:

Michael McFadden, CEO

Tel: 1-858-344-4375

info@alphacognition.com

Source: Alpha Cognition Inc.

FAQ

What is the size of Alpha Cognition's (ACOGF) planned public offering?

Alpha Cognition plans to raise approximately US$25 million through a public offering of common shares and pre-funded warrants.

What is the ratio of Alpha Cognition's (ACOGF) reverse stock split?

Alpha Cognition will implement a 1-for-25 reverse stock split of its issued and outstanding common shares.

How will Alpha Cognition (ACOGF) use the proceeds from its offering?

The proceeds will fund the New Drug Application support, ZUNVEYL commercialization, pipeline R&D, CMC activities, and general corporate purposes.

When will Alpha Cognition's (ACOGF) reverse stock split take effect?

The reverse stock split is anticipated to take effect at the open of markets on November 5, 2024.

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