CFGI’s Capital Markets team assisted Clene Nanomedicine (“Clene”) (NYSE: CLNN) with its SPAC merger with Tottenham Acquisition I Limited (“Tottenham”). The transaction closed on December 30, 2020, and its shares of common stock will start trading on the NASDAQ Capital Market under the ticker symbol “CLNN”. Proceeds from the transaction totaled approximately $31.9 million, which included held in Tottenham’s trust account and a concurrent private placement investment in public equity financing led by existing Clene shareholders.
Clene is a clinical-stage biopharmaceutical company focused on the development of unique therapeutics for neurodegenerative diseases. Clene has innovated a novel nanotechnology drug platform for the development of a new class of orally administered neurotherapeutic drugs. Clene has also advanced into the clinic an aqueous solution of ionic zinc and silver for anti-viral and anti-microbial uses. Founded in 2013, the company is based in Salt Lake City, Utah with R&D and manufacturing operations located in North East, Maryland. For more information, please visit www.clene.com.
The CFGI team was led by April Coleman (Capital Markets) and Carla Amaning (Capital Markets).
For further information on the offering, please read Clene’s press release.