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CHARLOTTESVILLE, Va. and CARMEL, Ind., July 18, 2023 (GLOBE NEWSWIRE) -- Acumen Pharmaceuticals, Inc. (“Acumen”) (NASDAQ: ABOS), a clinical-stage biopharmaceutical company developing a novel therapeutic that targets soluble amyloid beta oligomers (AβOs) for the treatment of Alzheimer’s disease (AD), today announced the pricing of an upsized underwritten public offering of 16,774,193 shares of its common stock at a price to the public of $7.75 per share. All of the shares are being offered by Acumen. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Acumen, are expected to be approximately $130 million. The offering is expected to close on July 21, 2023, subject to the satisfaction of customary closing conditions. In addition, Acumen has granted the underwriters a 30-day option to purchase up to an additional 2,516,128 shares of its common stock at the public offering price, less underwriting discounts and commissions.
BofA Securities, Citigroup and Stifel are acting as bookrunners for the public offering. BTIG is acting as lead manager for the offering.
The securities described above are being offered by Acumen pursuant to its effective shelf registration statement on Form S-3 declared effective by the Securities and Exchange Commission (the “SEC”) on July 8, 2022. Before you invest, you should read the prospectus in the registration statement and related prospectus supplement for more complete information about Acumen and this offering. An electronic copy of the preliminary prospectus supplement and accompanying base prospectus relating to the offering are available on the SEC website at www.sec.gov. An electronic copy of the final prospectus supplement and accompanying prospectus will be available on the SEC website at www.sec.gov or, when available, may also be obtained by contacting BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email: dg.prospectus_requests@bofa.com, by contacting Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146), or by contacting Stifel, Nicolaus & Company, Inc., Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720, or by email at syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.