Avenue Therapeutics Announces Exercise and Closing of Underwriter’s Over-Allotment Option

On November 17, 2021 Avenue Therapeutics, Inc. (the "Company") (NASDAQ: ATXI), a company focused on the development of intravenous ("IV") tramadol for the U.S. market, reported that the underwriter of its previously announced underwritten public offering has exercised, in full, its option to purchase an additional 292,018 shares of common stock at a price of $1.34 per share (Press release, Avenue Therapeutics, NOV 17, 2021, View Source [SID1234595743]). Total gross proceeds to the Company from the offering, including the funds received from the prior closing and exercise of this option, are approximately $3 million, before deducting underwriting discounts, commissions, and other offering expenses payable by the Company.

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Aegis Capital Corp. acted as the sole book-running manager for the offering.

The offering was made pursuant to a registration statement on Form S-3 (File No. 333-259850) previously filed with and declared effective by the Securities and Exchange Commission (the "SEC"). A final prospectus and accompanying registration statement relating to the offering were filed with the SEC and are available on the SEC’s website at www.sec.gov.

A copy of the final prospectus and accompanying registration statement relating to the offering may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at [email protected], or by telephone at (212) 813-1010.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy 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.