Chromocell Therapeutics Announces Pricing Of Upsized $6.6M Initial Public Offering Of 1.1M Shares Of Stock At A Price Of $6/Share
Portfolio Pulse from Benzinga Newsdesk
Chromocell Therapeutics Corporation (NYSE:CHRO) announced the pricing of its initial public offering (IPO) of 1.1 million shares at $6.00 per share, raising $6.6 million. The offering includes an option for underwriters to purchase additional shares to cover over-allotments. CHRO's shares will begin trading on the NYSE American LLC on February 16, 2024. The net proceeds will fund various studies for their non-opioid therapeutic, CC8464, and repay certain debts. A.G.P./Alliance Global Partners is the sole book-running manager for the offering.
February 16, 2024 | 1:09 pm
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Chromocell Therapeutics Corporation announced its IPO pricing at $6 per share, aiming to raise $6.6 million for advancing its non-opioid pain therapy and other corporate purposes.
The successful pricing of Chromocell's IPO and its plans to use the proceeds for advancing its non-opioid pain therapy, CC8464, indicate a positive outlook for the company's future. The commencement of trading on the NYSE American LLC could attract investor interest, potentially leading to a short-term positive impact on CHRO's stock price.
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