Avenue Therapeutics, Inc., a specialty pharmaceutical company, has entered into material definitive agreements with certain investors for the immediate cash exercise of outstanding warrants, resulting in approximately $4.4 million in gross proceeds. The agreements involve the exercise of warrants originally issued in October 2022, November 2023, and January 2024 at a reduced price of $6.20 per share. In conjunction with this exercise, Avenue will issue new Series C and D Common Stock purchase warrants. The closing of these transactions occurred on May 1, 2024. H.C. Wainwright & Co., LLC served as the exclusive agent for the transactions, receiving a cash fee, reimbursement of expenses, and issuance of placement agent warrants with an exercise price of $7.75 per share. The company plans to use the net proceeds for general corporate purposes and has committed to filing a registration statement for the resale of the new warrant shares. Additionally, Avenue has agreed not to issue or enter into agreements for a Variable Rate Transaction for twelve months post-closing, with certain exceptions.

Avenue Therapeutics, Inc., a specialty pharmaceutical company, has entered into material definitive agreements with certain investors for the immediate cash exercise of outstanding warrants, resulting in approximately $4.4 million in gross proceeds. The agreements involve the exercise of warrants originally issued in October 2022, November 2023, and January 2024 at a reduced price of $6.20 per share. In conjunction with this exercise, Avenue will issue new Series C and D Common Stock purchase warrants. The closing of these transactions occurred on May 1, 2024. H.C. Wainwright & Co., LLC served as the exclusive agent for the transactions, receiving a cash fee, reimbursement of expenses, and issuance of placement agent warrants with an exercise price of $7.75 per share. The company plans to use the net proceeds for general corporate purposes and has committed to filing a registration statement for the resale of the new warrant shares. Additionally, Avenue has agreed not to issue or enter into agreements for a Variable Rate Transaction for twelve months post-closing, with certain exceptions.