Benzinga | May 7, 2021 07:21AM EDT

Anebulo Pharmaceuticals Late Thursday Priced Its IPO of 3M Shares At $7/Share

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) ("Anebulo" or the "Company"), a clinical-stage biotechnology company developing novel solutions for people suffering from cannabinoid overdose and substance addiction, today announced the pricing of its initial public offering of 3,000,000 shares of common stock at a public offering price of $7.00 per share. The gross proceeds from the offering to the Company, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to be approximately $21.0 million. In addition, the Company has granted the underwriter a 30-day option to purchase from the Company up to an additional 450,000 shares of common stock to cover over-allotments, if any, at the initial public offering price, less underwriting discounts and commissions.