Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Saturday, February 7, 1:55 PM
Slide #213. Ovid Therapeutics Inc. — Preferred Stock Offering
| Company: |
Ovid Therapeutics Inc. (NASDAQ:OVID) |
| Date announced: |
2/19/2019 |
| Shares Offered: |
2,500 |
| Date of Pricing: |
2/20/2019 |
| Price Per Share: |
$2,000.00 |
| Preferred Stock Offering Details: |
Ovid Therapeutics Inc. (Nasdaq: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, today announced that it intends to offer and sell shares of its common stock and Series A convertible preferred stock ("Series A stock") in two concurrent but separate underwritten public offerings. Neither of the proposed common stock offering or the Series A stock offering (together, the "Offerings") are contingent upon the consummation of the other. The Offerings are subject to market and other conditions, and there can be no assurance as to whether or when the Offerings may be completed, or the actual size or terms of the Offerings. -updated 2/20- Ovid Therapeutics Inc. (Nasdaq: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, today announced the pricing of underwritten public offerings of (i) 12,500,000 shares of its common stock and (ii) 2,500 shares of its non-voting Series A Convertible Preferred Stock ("Series A stock") (together, the "Offerings"). The public offering price of each share of common stock is $2.00 and the public offering price of each share of Series A stock is $2,000.00. In addition, Ovid Therapeutics has granted the underwriters a 30-day option to purchase additional shares of common stock of up to 15% of the number of shares offered in the common stock offering. The Offerings are expected to close on February 22, 2019, subject to customary closing conditions. |
Ovid Therapeutics Inc. is a biopharmaceutical company focused on improving the lives of people with epilepsies and brain conditions with seizure symptoms. It advances a pipeline of novel, targeted small molecule candidates that modulate factors involved in neuronal hyperexcitability. Key developments include OV888 (GV101), a ROCK2 inhibitor for cerebral cavernous malformations; OV329, a GABA-aminotransferase inhibitor for treatment-resistant seizures; and OV350, a KCC2 transporter activator for epilepsies and psychiatric conditions. It also develops soticlestat, a cholesterol 24-hydroxylase inhibitor for Dravet and Lennox-Gastaut syndromes.
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