Alzamend Neuro, Inc Prices 2.5M Share IPO at $5/sh

Alzamend Neuro, Inc. (“Alzamend”), a preclinical stage biopharmaceutical company focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders, today announced the pricing of its initial public offering of 2,500,000 shares of its common stock at a price to the public of $5.00 per share. The gross proceeds from the offering to Alzamend, before deducting underwriting discounts and commissions and other offering expenses payable by Alzamend, are expected to be $12.5 million. In addition, the underwriters have been granted a 45-day option to purchase up to an additional 375,000 shares of common stock, at the initial public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on The Nasdaq Capital Market on June 15, 2021 under the ticker symbol “ALZN” and the offering is expected to close on June 17, 2021, subject to customary closing conditions.

Spartan Capital Securities, LLC is acting as sole book-running manager for the offering.

The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, will be filed with the Securities and Exchange Commission (“SEC”) and will be available on the SEC’s website at www.sec.gov and may be obtained from: Spartan Capital Securities, LLC, Attn.: Prospectus Department, 45 Broadway, 19th Floor, New York, NY 10006, by telephone at (212) 293-0123 or by email at [email protected].

The securities described above are being offered by Alzamend pursuant to a registration statement on Form S-1 (File No. 333-255955) declared effective by the SEC on June 14, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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