Synaptogenix intends to use the net proceeds from the private placement to support the ongoing development of Bryostatin-1, which is currently in a Phase 2b National Institutes of Health ("NIH") sponsored Alzheimer's disease ("AD") trial, as well as additional research and development for new indications.

Each Unit being sold consists of one share of common stock and one warrant at a combined purchase price of $7.547 per Unit. The warrants will be exercisable for five years at a price of $8.51 per share of common stock. The private placement is expected to close on or about June 16, 2021, subject to customary closing conditions.

Alan Tuchman, M.D., Chief Executive Officer, stated, "We are appreciative of the continued support from our existing shareholder base who led this financing, and we look forward to continuing to update investors on our NIH sponsored Phase 2 AD trial, as well as discussions with strategic partners on other central nervous system indications."  

The securities to be sold in the private placement will not have been registered under the Securities Act of 1933, as amended, or state securities laws as of the time of issuance and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission ("SEC") or an applicable exemption from such registration requirements. The Company has agreed to file one or more registration statements with the SEC registering the resale of the shares of common stock and the shares of common stock underlying the warrants purchased in the private placement.

Katalyst Securities LLC acted as lead placement agent.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.