NervGen Prices $60 Million Public Offering of Shares and Warrants
The financing is intended to support clinical work on NVG-291 and company operations using proceeds from a U.S. and Canadian shelf offering.
Overview
- NervGen priced an underwritten offering of 24,000,000 common shares with one accompanying warrant per share at a public offering price of US$2.50 each.
- Each warrant is immediately exercisable at US$3.68 and will expire five years after issuance, creating possible future dilution if exercised.
- The deal is expected to generate roughly US$60.0 million in gross proceeds before fees and is slated to close on May 26, 2026 subject to customary closing conditions.
- Leerink Partners and TD Cowen are joint bookrunning managers and the sale is being conducted under existing Canadian and U.S. shelf registration documents; the offering excludes Quebec.
- NervGen says it will use net proceeds to advance NVG-291 through clinical studies and for general corporate needs; NVG-291 holds FDA Fast Track and EMA Orphan Drug designations but development and regulatory outcomes remain uncertain.