Cassava Sciences, Inc., a biotechnology company based in Austin, Texas, has announced the registration of warrants for the purchase of common stock with the United States Securities and Exchange Commission (SEC). These warrants will be distributed to shareholders of record as of December 22, 2023, and are set to be listed on The Nasdaq Capital Market under the symbol 'SAVAW'. The distribution date for the warrants is scheduled for January 3, 2023. Each warrant entitles the holder to purchase shares of Cassava Sciences' common stock at a price of $33.00, along with an additional 0.5 share as a bonus if exercised before the Bonus Share Expiration Date. The Bonus Share Expiration Date will be announced by the company with at least 20 business days' notice. The warrants...Show More

Cassava Sciences, Inc., a biotechnology company based in Austin, Texas, has announced the registration of warrants for the purchase of common stock with the United States Securities and Exchange Commission (SEC). These warrants will be distributed to shareholders of record as of December 22, 2023, and are set to be listed on The Nasdaq Capital Market under the symbol 'SAVAW'. The distribution date for the warrants is scheduled for January 3, 2023. Each warrant entitles the holder to purchase shares of Cassava Sciences' common stock at a price of $33.00, along with an additional 0.5 share as a bonus if exercised before the Bonus Share Expiration Date. The Bonus Share Expiration Date will be announced by the company with at least 20 business days' notice. The warrants are redeemable at the company's discretion after April 15, 2024, with a redemption price of 1/10 of $0.01 per warrant. The expiration date for the warrants is November 15, 2024. Cassava Sciences will not issue fractional warrants or shares, and any fractions will be rounded down. The company has also indicated that the distribution of the warrants is not registered under the Securities Act as it is considered a dividend distribution and not a sale of securities for value.