LOS ALTOS, Calif. - Alto Neuroscience, Inc. (NYSE: ANRO), a clinical-stage biopharmaceutical company, has announced the pricing of its upsized initial public offering (IPO) at $16.00 per share. The company is offering 8,040,000 shares of common stock, with anticipated gross proceeds of approximately $128.6 million, before the deduction of underwriting discounts, commissions, and other offering expenses.
The shares began trading Friday on the New York Stock Exchange under the ticker symbol ANRO. The closing of the offering is expected on Monday, subject to customary closing conditions.
Alto has also granted the underwriters a 30-day option to purchase up to an additional 1,206,000 shares at the IPO price, less the underwriting discounts and commissions.
The offering has attracted a team of financial institutions as joint book-running managers, including Jefferies, TD Cowen, Stifel, and William Blair. Baird is serving as the lead manager for the offering.
Alto Neuroscience is focused on redefining psychiatry through its Precision Psychiatry Platform™, which aims to develop personalized treatment options for mental health conditions by measuring brain biomarkers. The company's clinical pipeline includes drug candidates for depression, PTSD, schizophrenia, and other mental health conditions.
The information provided in this article is based on a press release statement from Alto Neuroscience, Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.