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Jupiter, Florida, Dec. 04, 2024 (GLOBE NEWSWIRE) -- 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.