Aclarion, Inc. Announces Closing of $9.4 Million Initial Public Offering

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Apr 27, 2022

SAN MATEO, CA / ACCESSWIRE / April 26, 2022 / Aclarion, Inc. ("Aclarion" or the "Company") (NASDAQ:ACON) (NASDAQ:ACONW), ahealthcare technology company that leverages Magnetic Resonance Spectroscopy ("MRS"), artificial intelligence and a proprietary biomarker to optimize clinical treatments for low back and neck pain, today announced the closing of its previously announced initial public offering of 2,165,000 shares of its common stock and accompanying warrants to purchase up to 2,165,000 shares of common stock. Each share of common stock was sold together with one warrant to purchase one share of common stock with an exercise price of $4.35 per share at a combined offering price of $4.35, for gross proceeds of approximately $9.4 million, before deducting underwriting discounts and offering expenses. In addition, Aclarion has granted the underwriters a 45-day option to purchase up to an additional 324,750 shares of common stock and/or warrants to purchase 324,750 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount, of which Maxim Group LLC has exercised its option to purchase an additional 324,750 warrants.