New York, NY, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Spartan Capital Securities LLC, a leading investment banking firm, is pleased to announce its role as a selling group member in Alpha Cognition Inc.'s successful $4.454 million bridge financing. The offering, comprised of convertible notes and warrants, was conducted to support the continued commercialization of Alpha Cognition’s novel therapies for neurodegenerative disorders.
Alpha Cognition Inc. (CSE: ACOG, OTCQB: ACOGF), a biopharmaceutical company focused on the development of treatments for Alzheimer's disease and other neurodegenerative conditions, secured this financing from a combination of existing investors and select new investors, including institutional funds and high-net-worth accredited individuals. The financing was led by The Benchmark Company, LLC, which acted as the sole placement agent, with the Kestrel Merchant Partners group at The Benchmark Company, LLC responsible for sourcing and executing the offering.
The convertible notes carry a maturity date of September 24, 2026, with a 10% annual interest rate, and are convertible into common shares at a price of $0.422 per share. Warrants accompanying the notes grant investors the ability to purchase additional common shares at the same conversion price for a term of five years. Proceeds from the financing will be utilized for payer pricing and contracting work, as well as the manufacturing of Alpha Cognition's FDA-approved drug, ZUNVEYL™.
About Spartan Capital Securities LLC:
Spartan Capital Securities LLC is a full-service financial firm offering comprehensive investment advisory services to institutional clients and high-net-worth individuals. Known for its market expertise and commitment to client success, Spartan Capital provides tailored solutions in a range of financial services, including capital raising, strategic advisory, and asset management.
For further information about Spartan Capital Securities and its services, please visit www.spartancapital.com.
Contact:
Spartan Capital Securities LLC
45 Broadway, 19th Floor
New York, NY 10006
investmentbanking@spartancapital.com
