- SaverOne 2014 (NASDAQ:SVRE) has priced an underwritten U.S. initial public offering of 2.94M units, for gross proceeds of ~$13M.
- Each units consists of one American Depositary Share (ADS) and one warrant to purchase one ADS, and 208,282 pre-funded units, each consisting of one pre-funded warrant to purchase one ADS and one warrant to purchase one ADS, at $4.13 per unit ($4.129 per pre-funded unit).
- Five years warrants will have a per ADS exercise price of $5.00, are exercisable immediately.
- Underwriters' have an option to purchase up to an additional 469,654 ADSs or pre-funded warrants and/or 469,654 warrants to purchase ADSs to cover over-allotments.
- Proceeds will be used for global sales and marketing expansion, for the development of company’s Generation 2.0 and 3.0 solutions, research and development, working capital and general corporate purposes and possible future acquisitions.
- The ADSs and warrants are expected to begin trading on the Nasdaq on June 3, 2022 under the symbols “SVRE” and “SVREW”.
- The offering is expected to close on June 7, 2022.