Aegis Capital Corp. acted as Sole Bookrunner on a $2.6 Million Public Offering of Common Stock for Avenue Therapeutics (NASDAQ: ATXI)

Rhea-AI Summary

Aegis Capital Corp. has successfully completed a $2.6 million public offering of common stock for Avenue Therapeutics (NASDAQ: ATXI). The funds raised through this offering are aimed at advancing Avenue's mission to develop IV tramadol, a potential alternative to conventional opioids for acute pain management in the U.S. Avenue Therapeutics was founded by Fortress Biotech (NASDAQ: FBIO) and is positioned to address the growing need for effective pain relief solutions.

Positive

• The $2.6 million raised can be utilized for the development of IV tramadol, enhancing Avenue Therapeutics' growth potential.
• Avenue Therapeutics addresses a significant market need for alternatives to conventional opioids.

Negative

• The public offering may lead to shareholder dilution due to the increase in outstanding shares.

NEW YORK, NY / ACCESSWIRE / November 12, 2021 / Aegis Capital Corp. acted as Sole Bookrunner on a $2.6 Million Public Offering of Common Stock for Avenue Therapeutics (NASDAQ:ATXI).

About Avenue Therapeutics

Avenue Therapeutics is a specialty pharmaceutical company whose mission is to develop IV tramadol, a potential alternative that could reduce the use of conventional opioids, for patients suffering from acute pain in the U.S. Avenue is headquartered in New York City and was founded by Fortress Biotech, Inc. (NASDAQ:FBIO).

For more information, visit www.avenuetx.com.

About Aegis Capital Corporation

Aegis Capital Corporation ("Aegis") has been in the wealth management and investment banking business since 1984. Aegis is dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Aegis also provides research and sales and trading services to institutional investors. Aegis offers its investment representatives a conflict free service platform and is able to provide a full-range of products and services including investment banking, wealth management, insurance, retirement planning, structured products, private equity, alternatives, equity research, fixed income and special purpose vehicles.

For more information about this offering or Investment Banking Services please email Banking@aegiscap.com or call (212) 813-1010.

www.aegiscapcorp.com

Brokerage and investment advisory services are offered through Aegis Capital Corporation, a member of FINRA and SIPC.

Investment and insurance products offered are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, or guaranteed by, a bank or any bank affiliate, and are subject to investment risks, including possible loss of the principal

SOURCE: Aegis Capital Corp.

View source version on accesswire.com:
https://www.accesswire.com/672613/Aegis-Capital-Corp-acted-as-Sole-Bookrunner-on-a-26-Million-Public-Offering-of-Common-Stock-for-Avenue-Therapeutics-NASDAQ-ATXI

FAQ

What is the purpose of Avenue Therapeutics' $2.6 million public offering?

The offering aims to fund the development of IV tramadol as an alternative for managing acute pain.

What does the public offering mean for Avenue Therapeutics' shareholders?

Shareholders may experience dilution due to the increase in outstanding shares resulting from the offering.

Who acted as the bookrunner for Avenue Therapeutics' public offering?

Aegis Capital Corp. was the sole bookrunner for the $2.6 million offering.

What company is Avenue Therapeutics affiliated with?

Avenue Therapeutics was founded by Fortress Biotech (NASDAQ: FBIO).