Axsome Therapeutics prices 3M shares at $75.00 in public offering

Axsome Therapeutics announced the pricing of an underwritten public offering of 3,000,000 shares of its common stock at a public offering price of $75.00 per share. The proceeds from the offering, before deducting the underwriting discounts and commissions and other offering expenses payable by Axsome, are expected to be $225M. In addition, Axsome has granted the underwriters a 30-day option to purchase up to 450,000 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about June 30, 2023, subject to customary closing conditions. Axsome intends to use the proceeds from this offering to advance its late-stage pipeline, including funding existing and potential new clinical programs, products, and product candidates, to expand its commercialization efforts, and for other general corporate purposes. SVB Securities is acting as lead bookrunning manager for the offering. Guggenheim Securities, Truist Securities, William Blair and Cantor are acting as joint bookrunning managers, and Ladenburg Thalmann, Mizuho and H.C. Wainwright & Co. are acting as lead managers for the offering.