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Neurotrope prices $22.5M registered direct offering

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Neurotrope prices $22.5M registered direct offering

New York-based Neurotrope Inc. priced a registered direct offering of common shares and warrants to investors for gross proceeds of about $22.5 million.

The company is selling 5,012,677 common shares, combined with warrants to buy an equal number of stocks, at $4.495 each.

The five-year warrants will be exercisable 6 months after the date of issuance at $4.37 per share.

The offering is expected to close on or about Dec. 19, subject to closing conditions. Katalyst Securities LLC and Maxim Group LLC acted as financing consultants for the offering, while GP Nurmenkari Inc. acted as a placement agent.

Neurotrope develops a product platform for treating Alzheimer's disease.