NEW YORK, Nov. 23, 2021 (GLOBE NEWSWIRE) -- AeroClean Technologies, Inc. (Nasdaq: AERC) today announced the pricing of its initial public offering.
The company's common stock is set to begin trading Wednesday, November 24, 2021 on the Nasdaq Capital Market under the ticker symbol "AERC".
The company is offering 2,500,000 shares of common stock at a public offering price of $10 per share.
The Benchmark Company, LLC, HCFP/Capital Markets LLC and Valuable Capital Limited are acting as Joint Bookrunning Managers for the offering.
Freshfields Bruckhaus Deringer US LLP is acting as counsel to the company. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. is acting as counsel to the underwriters.
An offering statement relating to the shares of common stock was filed with the U.S. Securities and Exchange Commission and became qualified on November 23, 2021. The offering is being made only by means of an offering circular, copies of which may be obtained, when available, by contacting: The Benchmark Company, LLC, Attention: Prospectus Department, 150 E. 58th Street, 17th Floor, New York, NY 10155, by calling (212) 312-6700 or by email at prospectus@benchmarkcompany.com. The offering circular is also available on the U.S. Securities and Exchange Commission website at www.sec.gov.
AeroClean Technologies expects to use the proceeds of the offering for supporting the build-out of its organization, funding the production of its air purification devices, establishing its consumables and services business and supporting its product development efforts for its high priority initiatives.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.
About AeroClean Technologies
AeroClean is a pathogen elimination technology company on a mission to keep work, play and life going—with continuous air sanitization products called, Pūrgo™ (pure-go). We create solutions for hospitals, offices and many shared spaces as well as elevators, aircraft and more. Pūrgo™ products feature SteriDuct™, a proprietary technology developed by our best-in-class aerospace engineers, medical scientists and innovators. Powered by SteriDuct™, our solutions are medical-grade, eradicating viral, fungal and bacterial airborne pathogens. Our purpose is simple: to never stop innovating solutions that keep people healthy and safe, so life never stops.
Forward-Looking Statements
This press release may include forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks (including those set forth in the company's offering circular filed with the U.S. Securities and Exchange Commission) and uncertainties that could cause actual results to differ from the forward-looking statements. The company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Investors should realize that if our underlying assumptions for the projections contained herein prove inaccurate or that known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections.
Contact:
Ryan Tyler
Chief Financial Officer, AeroClean
RTyler@AeroClean.com
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