Capnia, Inc. Announces Closing of Initial Public Offering and Partial Exercise of Over-Allotment Option

REDWOOD CITY, Calif., Nov. 18, 2014 /PRNewswire/ — Capnia, Inc. (NASDAQ: CAPN) announced today the closing of its initial public offering of 1,650,000 units, each unit consisting of one share of common stock, one Series A warrant to purchase one share of common stock and one Series B warrant to purchase one share of common stock, at a price to the public of $6.50 per unit. In addition, the Company announced today that it closed the sale of an additional 247,500 Series A warrants at a price of $0.005 per warrant and an additional 247,500 Series B warrants at a price of $0.005 per warrant, pursuant to the over-allotment option being exercised in part by the underwriters of its recently completed initial public offering. With this exercise, the Company’s initial public offering amounts to a total of 1,650,000 shares of common stock, 1,897,500 Series A warrants and 1,897,500 Series B warrants, representing gross total proceeds of $10.7 million to the Company before deducting underwriting discounts and commissions and other offering fees and expenses.

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