Soleno Therapeutics, Inc. announced that it has entered into a Securities Purchase Agreement with certain investors to issue common shares and/or pre-funded warrants at a price per share equal to the public offering price for the gross proceeds of up to $30 million on September 27, 2023. The sale of these shares will not be registered under the Securities Act. The private placement is subject to certain closing conditions, and will occur in a closing for the PIPE investors to be held simultaneous with the closing of this offering.

The consummation of the concurrent private placement will be contingent upon the closing of this offering.