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Alcobra Ltd. Announces Closing of Approximately $38 Million Public Offering of Ordinary Shares

TEL AVIV, Israel, Oct. 30, 2013 (GLOBE NEWSWIRE) -- Alcobra Ltd. (Nasdaq:ADHD), an emerging biopharmaceutical company primarily focused on the development and commercialization of its proprietary drug, MG01CI (Metadoxine extended-release), to treat cognitive dysfunctions, such as ADHD and Fragile X Syndrome, announced today the closing of its previously announced public offering of 2,300,000 ordinary shares, including shares issued pursuant to the underwriters' over-allotment option, at an offering price of $16.50 per share. The gross proceeds to Alcobra from the offering, including from the exercise of the over-allotment option, were approximately $38,000,000, before underwriting discounts and commissions and other offering expenses.

Stifel and Aegis Capital Corp. acted as joint book-running managers. JMP Securities acted as co-lead manager for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 24, 2013.

This offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained by contacting Stifel, Nicolaus & Company, Incorporated, Attn: Prospectus Department, One South Street, 15th Floor, Baltimore, MD 21201 telephone: 443-224-1988; or Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: prospectus@aegiscap.com.

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

About Alcobra Ltd.

Alcobra Ltd. is an emerging biopharmaceutical company primarily focused on the development and commercialization of a proprietary drug, MG01CI, to treat cognitive dysfunctions including Attention Deficit Hyperactivity Disorder (ADHD) and Fragile X Syndrome. MG01CI has completed Phase II studies to treat Attention Deficit Hyperactivity Disorder. The company was founded in 2008 and is headquartered in Tel Aviv, Israel.

CONTACT: U.S. Investor Contacts: KCSA Strategic Communications Jeffrey Goldberger / Garth Russell +1 212.896.1249 / +1 212.896.1250 jgoldberger@kcsa.com / grussell@kcsa.com Israel Investor Contact: Investor Relations Ltd. Mor Dagan +011972-3-5167620 mor@km-ir.co.ilSource:Alcobra Ltd.