VistaGen to sell 2,352,942 units sale with greenshoe of 352,942 units

Chardan Capital Markets and WallachBeth Capital are the bookrunners

By Devika Patel

Knoxville, Tenn., May 10 – VistaGen Therapeutics, Inc. plans to sell 2,352,942 units in its initial public offering with a 45-day greenshoe of 352,942 additional units, according to a Form S-1/A filed Tuesday with the Securities and Exchange Commission. The deal was announced on March 14.

The units will each consist of one common share and one warrant. The warrants are exercisable at 125% of the per-unit price for five years.

Chardan Capital Markets, LLC and WallachBeth Capital, LLC are the bookrunning managers.

Proceeds will be used for clinical development of AV-101, including funding the expected phase 2b study of AV-101 and also for research and nonclinical development related to the company’s stem cell technology platform, for capital expenditures and for general corporate purposes.

The company is a South San Francisco, Calif.-based biotechnology company focused on stem cells.

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