Jupiter Neurosciences, Inc. Announces Closing of $11 million Initial Public Offering
04 Dezember 2024 - 10:56PM
Jupiter Neurosciences, Inc. (Nasdaq: JUNS) (the “Company” or
“Jupiter Neurosciences”), a clinical stage pharmaceutical company
advancing a pipeline targeting neuroinflammation with its unique
resveratrol platform product, JOTROL™, today announced the closing
of its initial public offering of 2,750,000 shares of common stock
at a price of $4.00 per share for gross proceeds of $11 million,
before deducting underwriting discounts and other related expenses.
The Company’s shares began trading on the Nasdaq
Capital Market on December 3, 2024 under the symbol “JUNS.”
The Company intends to use the net proceeds from
the Offering to fund the Phase II clinical trial of its product
candidate JOTROL™ in patients with Parkinson’s Disease,
Strategic Service Agreements to accelerate business activities in
South-East Asia, research and development activities regarding
evaluation of new product opportunities, payment of the outstanding
annual license fees due to Aquanova AG, the repayment of debt,
working capital and other general corporate purposes.
Dominari Securities LLC acted as the lead
underwriter, with Revere Securities LLC acting as the co-manager
for the offering.
Anthony, Linder & Cacomanolis, PLLC acted as
legal counsel to Jupiter Neurosciences and ArentFox Schiff LLP
acted as legal counsel to the Underwriters in connection with the
offering.
The Company’s Registration Statement on Form S-1
(File No. 333- 260183) relating to the securities being offered was
previously filed with, and subsequently declared effective by the
U.S. Securities and Exchange Commission (the “SEC”) on November 8,
2024. The offering was made by means of a prospectus, forming part
of the Registration Statement. You may get these documents for free
by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, copies of the prospectus relating to the offering
may be obtained, when available, from Dominari Securities
LLC by email at info@dominarisecurities.com, by standard
mail to Dominari Securities LLC, 725 Fifth Avenue, 23rd
Floor New York, NY 10022, or by telephone at (212) 393-4500; or
from Revere Securities LLC by email
at contact@reveresecurities.com, by standard mail to Revere
Securities LLC, 560 Lexington Avenue, 16th Floor, New York, NY
10022, or by telephone at +1 (212) 688-2350.
This press release has been prepared for
informational purposes only and shall not constitute an offer to
sell or the solicitation of an offer to buy any securities, and no
sale of these securities may be made in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or other jurisdiction.
About Jupiter Neurosciences,
Inc.
Jupiter Neurosciences, Inc. is a clinical-stage
pharmaceutical company focused on treating neuroinflammation, with
a current focus on CNS disorders and rare diseases. The Company’s
platform product, JOTROL™, is an enhanced orally administered
resveratrol formulation designed and intended to deliver
therapeutically relevant, safe levels of resveratrol. The Company’s
pipeline is focused broadly on CNS disorder and includes
indications such as Alzheimer’s Disease, Parkinson’s Disease,
Mucopolysaccharidoses Type I, Friedreich’s Ataxia, and MELAS. More
information may be found on the Company’s
website www.jupiterneurosciences.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this announcement are
forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
the Company’s current expectations, including the use of proceeds
from the Offering. Investors can find many (but not all) of these
statements by the use of words such as “approximates,” “believes,”
“hopes,” “expects,” “anticipates,” “estimates,” “projects,”
“intends,” “plans,” “will,” “would,” “should,” “could,” “may” or
other similar expressions. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct. The Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to read the risk factors contained in the
Company’s final prospectus and other reports it files with the SEC
before making any investment decisions regarding the Company’s
securities. The Company undertakes no obligation to update or
revise publicly any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law.
Contacts
Investor RelationsAlison Silva, President &
CBOa.silva@jupiterneurosciences.com
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