Soleno Therapeutics Closes $100M Public Offering
Ticker: SLNO · Form: 8-K · Filed: 2024-06-28T00:00:00.000Z
Sentiment: bullish
Topics: public-offering, financing, capital-raise
TL;DR
SOLENO just closed a $100M stock offering at $10/share. Big cash infusion!
AI Summary
On June 28, 2024, Soleno Therapeutics, Inc. filed an 8-K report detailing the closing of its previously announced underwritten public offering. The company successfully raised approximately $100 million in gross proceeds before deducting underwriting discounts and commissions and other offering expenses. This offering involved the sale of 10,000,000 shares of common stock at a price of $10.00 per share.
Why It Matters
This significant capital raise provides Soleno Therapeutics with substantial funds to advance its clinical programs, potentially accelerating the development of its therapies and impacting future market opportunities.
Risk Assessment
Risk Level: medium — While the capital raise is positive, the success of the company's therapies and future market performance remain subject to clinical trial outcomes and regulatory approvals.
Key Numbers
- $100.0M — Gross Proceeds (Raised from public offering)
- 10.0M shares — Shares Sold (In the public offering)
- $10.00 — Price Per Share (For the common stock offering)
Key Players & Entities
- Soleno Therapeutics, Inc. (company) — Registrant
- June 28, 2024 (date) — Date of Report
- $100 million (dollar_amount) — Gross proceeds from public offering
- 10,000,000 shares (stock_volume) — Shares sold in public offering
- $10.00 (dollar_amount) — Price per share
FAQ
What was the total amount of gross proceeds raised by Soleno Therapeutics in the public offering?
Soleno Therapeutics raised approximately $100 million in gross proceeds from the underwritten public offering.
On what date did Soleno Therapeutics file this 8-K report?
The 8-K report was filed on June 28, 2024.
How many shares of common stock were sold in the offering?
A total of 10,000,000 shares of common stock were sold in the offering.
At what price per share was the common stock offered?
The common stock was offered at a price of $10.00 per share.
What is the primary purpose of this capital raise for Soleno Therapeutics?
The filing indicates the capital raise is from an underwritten public offering, implying the funds will be used for general corporate purposes, which typically include advancing clinical programs and operations.
Filing Stats: 481 words · 2 min read · ~2 pages · Grade level 10.4 · Accepted 2024-06-28 16:06:53
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value SLNO NASDAQ Indicate by
Filing Documents
- d832323d8k.htm (8-K) — 25KB
- d832323dex991.htm (EX-99.1) — 9KB
- 0001193125-24-172238.txt ( ) — 158KB
- slno-20240628.xsd (EX-101.SCH) — 3KB
- slno-20240628_lab.xml (EX-101.LAB) — 18KB
- slno-20240628_pre.xml (EX-101.PRE) — 11KB
- d832323d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 99.1 Press release issued by Soleno Therapeutics, Inc. dated June 28, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SOLENO THERAPEUTICS, INC. Date: June 28, 2024 By: /s/ Anish Bhatnagar Anish Bhatnagar Chief Executive Officer 3