Summary by Moomoo AI
On May 8, 2024, Cassava Sciences, Inc., a biotechnology company specializing in Alzheimer's disease treatment, announced the successful raising of over $125 million through the cash exercise of warrants. The gross proceeds came from the sale of approximately 5.7 million shares of common stock at $22.00 per share. B. Dyson Capital Advisors acted as the exclusive financial advisor for the warrant distribution. The company's President and CEO, Remi Barbier, expressed gratitude for the shareholder support, hinting at the possibility of future warrant distributions. The CFO, Eric Schoen, noted the shareholders' appreciation for the choice to either sell their warrants or increase their equity stake in the company. After accounting for advisory fees and other expenses, the net proceeds for Cassava Sciences are estimated...Show More
