McGuireWoods Advises Avenue Therapeutics in $12 Million Follow-on Public Offering

October 14, 2022

McGuireWoods advised Avenue Therapeutics Inc., a specialty pharmaceutical company focused on the development and commercialization of therapies for treating central nervous system diseases, in its $12 million follow-on underwritten public offering of securities that closed Oct. 11, 2022.

In the offering, underwritten by Aegis Capital Corp. as sole bookrunning manager, Avenue Therapeutics sold approximately 3,636,365 common and pre-funded “units.” Each common unit consists of one share of common stock and one warrant to purchase one share of common stock. Each pre-funded unit consists of one pre-funded warrant to purchase one share of common stock and one warrant to purchase one share of common stock.

Charlotte partner Rakesh Gopalan and counsel David Wolpa led the deal team, which also included New York associate Samar Khan and Richmond associate Latasha James. All are members of the firm’s Securities & Capital Markets Department. Charlotte partner Sabrina Conyers advised on tax issues.

“We were pleased to assist Avenue Therapeutics in this transaction, which will further the company’s important work developing treatments for central nervous system diseases and bringing these products to market,” Gopalan said.

McGuireWoods’ capital markets team has earned global recognition for its representation of corporate issuers and underwriters in complex corporate and securities matters, repeatedly ranking among the top law firms for debt and equity issuances in authoritative league tables.