Alcobra Ltd. Announces Full Exercise Of Over-Allotment Option By Underwriters
The following excerpt is from the company's SEC filing
Tel Aviv, Israel – (October 29,
2013) – Alcobra Ltd. (NASDAQ CM: ADHD), an emerging biopharmaceutical company primarily focused on the development and
commercialization of its proprietary drug, MG01CI (Metadoxine extended-release), to treat cognitive dysfunctions, such as ADHD
and Fragile X Syndrome, today announced that the underwriters of its previously announced public offering of 2,000,000 ordinary
shares have exercised their option to purchase an additional 300,000 ordinary shares at $16.50 per share to cover over
allotments, bringing total gross proceeds from the offering to approximately $38,000,000, before deducting underwriting discounts
and commissions and other offering expenses payable by the Company. The offering is expected to close on October 30, 2013, subject
to customary closing conditions.
This offering was made only by means of
a prospectus. Copies of the prospectus relating to this offering may be obtained by contacting Stifel, Nicolaus & Company,
Incorporated, Attn: Prospectus Department, One South Street, 15th Floor, Baltimore, MD 21201, telephone: 443-224-1988; or Aegis
Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: email@example.com.
This press release shall not constitute
an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws
of any such state or jurisdiction.
Alcobra Ltd. is an emerging biopharmaceutical
company primarily focused on the development and commercialization of a proprietary drug, MG01CI, to treat cognitive dysfunctions
including Attention Deficit Hyperactivity Disorder (ADHD) and Fragile X Syndrome. MG01CI has completed Phase II studies to treat
ADHD. The company was founded in 2008 and is headquartered in Tel Aviv, Israel.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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