Deal Details

Alto Completes $147.9 Million Initial Public Offering

Healthcare

Alto initial public offering

Summary

Alto Neuroscience, Inc. (“Alto”) (NYSE: ANRO) recently completed an upsized initial public offering of 9,246,000 shares of common stock, including the full exercise of the underwriters’ option to purchase additional shares of common stock, at a public offering price of $16.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, were approximately $147.9 million. Alto intends to use the net proceeds of the offering to advance the clinical development of ALTO-100, ALTO-300, ALTO-101, ALTO-203 and for general corporate purposes.

Baird served as a lead manager on this offering.

About

Alto is a clinical-stage biopharmaceutical company with a mission to redefine psychiatry by leveraging neurobiology to develop personalized and highly effective treatment options. Alto's Precision Psychiatry Platform™ measures brain biomarkers by analyzing EEG activity, neurocognitive assessments, wearable data and other factors to better identify which patients are more likely to respond to Alto product candidates. Alto’s clinical-stage pipeline includes novel drug candidates in depression, PTSD, schizophrenia and other mental health conditions. Alto is headquartered in Los Altos, California.

Healthcare

Alto initial public offering