For Immediate Release
August 28, 2020
CRANFORD, NJ – WBB Securities acted as co-manager for a public offering of CohBar Inc. on August 28, 2020. Gross proceeds to CohBar Inc. from the offering are approximately $15.0 million, before deducting the underwriting discount and estimated offering expenses. CohBar Inc. intends to use the net proceeds from the Equity Offering and its existing cash resources for general corporate purposes, which may include funding preclinical and clinical development of its peptides, increasing working capital, operating expenses, and capital expenditures. The offering consisted of 12.3 million common shares of CohBar Inc. common stock at a price to the public of $1.22 per share. In addition, the Underwriters exercised their option to purchase 1.384 million shares of common stock.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About WBB Securities
WBB Securities is a leading Investment Management, Investment Banking, and Equity Research firm focused primarily in the life sciences niche. Established in 2001 with offices in New Jersey, New York, and San Diego. WBB Securities is registered with the SEC as a broker-dealer and is a member of the Financial Regulatory Authority, as well as a state registered investment advisor with a proprietary trading desk. The firm is comprised of a nationwide team of respected senior investment and research professionals serving institutional and high net-worth clients.
About CohBar Inc.
CohBar Inc. is a clinical stage biotechnology company focused on the research and development of mitochondria based therapeutics, an emerging class of drugs for the treatment of chronic and age-related diseases. Mitochondria based therapeutics originate from the discovery by CohBar’s founders of a novel group of naturally occurring peptide sequences within the mitochondrial genome, some of which have been shown to have the potential to regulate key processes in multiple systems and organs in the body. To date, the company has discovered more than 100 mitochondrial derived peptides and generated over 1,000 analogs.