Aegis Capital Corp. Acted as Sole Bookrunner on a $2 Million Public Offering of Common Stock for Avenue Therapeutics (NASDAQ: ATXI)

Rhea-AI Summary

Avenue Therapeutics has successfully completed a $2 million public offering of common stock, with Aegis Capital Corp. acting as the sole bookrunner. The funds raised will support the company’s ongoing development of IV tramadol, an alternative aimed at reducing opioid use for patients with acute pain in the U.S. Avenue Therapeutics is headquartered in New York City and is focused on innovative solutions for pain management.

Positive

• Raised $2 million to support ongoing development of IV tramadol.
• Potential to reduce opioid use, addressing a critical healthcare need.

Negative

• Dilution risk for existing shareholders due to the public offering.

NEW YORK, NY / ACCESSWIRE / December 15, 2021 / Aegis Capital Corp. acted as Sole Bookrunner on a $2 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.

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 amount invested.

SOURCE: Aegis Capital Corp.

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FAQ

What is the purpose of Avenue Therapeutics' $2 million public offering?

The $2 million public offering aims to support the development of IV tramadol, designed as an alternative to conventional opioids for acute pain management.

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

Aegis Capital Corp. acted as the sole bookrunner for Avenue Therapeutics' $2 million public offering.

How might the public offering impact Avenue Therapeutics' shareholders?

The public offering may lead to dilution of existing shares, potentially affecting the value for current shareholders.

What is IV tramadol and why is it significant?

IV tramadol is a potential alternative to opioids aimed at providing acute pain relief, which could lessen the reliance on conventional opioid medications.