Pasithea Therapeutics Corp. Announces Closing of $24.0 Million Initial Public Offering
18 September 2021 - 6:05AM
Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the
“Company”), a biotechnology company focused on the research and
discovery of new and effective treatments for psychiatric and
neurological disorders, today announced the closing of its
previously announced initial public offering of 4,800,000 units
(“Units”), with each unit consisting of one share of common stock
(the “Common Stock”) and one warrant (the “Warrant”) to purchase
one share of Common Stock at a public offering price of $5.00 per
Unit, for aggregate gross proceeds of approximately $24.0 million,
prior to deducting underwriting discounts, commissions, and other
offering expenses.
The Company’s Common Stock and Warrants began
trading on The Nasdaq Capital Market on September 15, 2021, under
the symbols “KTTA” and “KTTAW,” respectively.
EF Hutton, division of Benchmark Investments,
LLC, acted as sole book-running manager for the offering.
The Securities and Exchange Commission (“SEC”)
declared effective a registration statement on Form S-1, as amended
(File No. 333-255205) (the “Registration Statement”), on September
14, 2021. In addition, a registration statement on Form S-1 (File
No. 333-259530) filed with the SEC pursuant to Rule 462(b) under
the Securities Act of 1933, as amended, became effective on
September 14, 2021. A final prospectus relating to the offering was
filed with the SEC and is available on the SEC’s website at
http://www.sec.gov. Electronic copies of the final prospectus
relating to this offering may be obtained from EF Hutton, division
of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New
York, NY 10022, Attention: Syndicate Department, or via email at
syndicate@efhuttongroup.com or telephone at (212) 404-7002.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Pasithea Therapeutics
Corp.
Pasithea Therapeutics Corp. is a biotechnology
company focused on the research and discovery of new and effective
treatments for psychiatric and neurological disorders. Its biotech
operations will focus on developing drugs that target the
pathophysiology underlying such disorders rather than symptomatic
treatments, with the goal of developing new pharmacological agents
that display significant advantages over conventional therapies
with respect to efficacy and tolerability.
The Company’s secondary operations focus on
providing business support services to anti-depression clinics in
the United Kingdom and in the United States. The Company’s
operations in the United Kingdom will involve providing business
support services to registered healthcare providers who will assess
patients, and if appropriate, administer intravenous infusions of
ketamine, and the Company’s operations in the United States will
involve providing business support services to entities that
furnish similar services to patients who personally pay for those
services. Pasithea has partnered with two successful clinics for
immediate exposure in locations across Los Angeles, New York City
and London.
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements.” Forward-looking statements
are subject to numerous conditions, many of which are beyond the
control of the Company. While the Company believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to the Company on the date of this
release. These forward-looking statements are based upon current
estimates and assumptions and are subject to various risks and
uncertainties, including, without limitation, those set forth in
the Risk Factors section of the Company’s Registration Statement
and final prospectus for the offering filed with the SEC. Thus,
actual results could be materially different. The Company
undertakes no obligation to update these statements whether as a
result of new information, future events or otherwise, after the
date of this release, except as required by law.
Pasithea Therapeutics Corp. Company
ContactDr. Tiago Reis MarquesChief Executive OfficerE:
tiago@pasithea.com
Pasithea Therapeutics Corp. Investor
RelationsLisa M. WilsonIn-Site Communications, Inc.T:
212-452-2793E: lwilson@insitecony.com
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