Neurotrope Reverse Merger Raises $21M
By Catherine Shaffer
Friday, August 30, 2013
Neurotrope Inc. completed a reverse merger making Neurotrope Bioscience Inc. – a wholly owned subsidiary – in hopes of bolstering fundraising efforts to advance its programs in Alzheimer’s disease. Immediately prior to the close of the merger, Neurotrope sold 11,533,375 shares of Series A convertible preferred stock to certain investors at a price of $1 per share, for gross proceeds of $11,533,375. The company previously sold $10,386,625 million in stock, for total gross proceeds of $21,920,000.
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