aibioCNS Pharmaceuticals increases its at-the-market stock program to $43.5 million
Tickers CNSP
The company has sold 2,522,755 shares for about $23.75 million so far under the program. It had 2,944,381 shares outstanding as of March 20, 2025.
Key facts
- Company
- CNS Pharmaceuticals, Inc. (NASDAQ: CNSP)
- News type
- Financings
- Primary source
- CNS Pharmaceuticals, Inc. 8-K (2025-03-20)
CNS Pharmaceuticals, Inc. (Nasdaq: CNSP) increased the amount of stock it can sell under its sales agreement with A.G.P./Alliance Global Partners to $43.5 million.
The agreement, signed on July 26, 2024, is an at-the-market program, which lets a company sell new shares into the market from time to time at current prices. It started at up to $5.2 million. The company raised the cap to $30.2 million on July 30, 2024. On March 20, 2025, it raised it again to $43.5 million, which includes $6,447,229.14 left over from the earlier $30.2 million, according to its filing.
As of March 20, 2025, CNS had sold 2,522,755 shares under the program for gross proceeds of approximately $23.75 million. It had 2,944,381 shares of common stock outstanding on that date.
The sales are made under the company's shelf registration statement on Form S-3, which became effective on May 17, 2024. The $43.5 million is part of the $75,000,000 of securities the company may sell under that registration.
The last sale price of CNS stock on March 19, 2025 was $3.81 per share, the prospectus supplement shows.