Alto's Brainy Bonanza: Neuroscience Powerhouse ANRO Unleashes $128.6M IPO Surge

02 February 2024 | Friday | News

Alto Neuroscience, Inc. (NYSE: ANRO) has set the financial world buzzing with its revelation of an upsized Initial Public Offering (IPO), offering a staggering 8,040,000 shares of common stock at a compelling $16.00 per share. Anticipating a neural windfall, the company foresees gross proceeds soaring to approximately $128.6 million, signaling a new era in the intersection of neuroscience and the stock market.
Image Source |Public Domain

Image Source |Public Domain

In a move that adds an intriguing layer to the IPO dynamics, Alto has granted underwriters a 30-day option to scoop up an additional 1,206,000 shares of common stock at the IPO price. This brainy boost aims to elevate the company's financial ascent, with all shares exclusively offered by Alto.

Come February 2, 2024, the cerebral spectacle is set to unfold on the New York Stock Exchange under the ticker symbol "ANRO." The offering is primed to conclude its cerebral odyssey on February 6, 2024, hinging on customary closing conditions.

Steering this financial journey are notable book-running managers Jefferies, TD Cowen, Stifel, and William Blair, with Baird taking the lead manager role. The registration statements for these groundbreaking securities gained SEC approval on February 1, 2024. Prospective investors can delve into the intricacies of the offering through a written prospectus available from Jefferies LLC, TD Cowen, Stifel, or William Blair.

This avant-garde financial move by Alto Neuroscience is poised to redefine the landscape where cutting-edge science meets Wall Street's dynamic heartbeat.

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