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Alcobra Ltd. Announces Closing of Initial Public Offering

NEW YORK, May 28, 2013 (GLOBE NEWSWIRE) -- Alcobra Ltd. (Nasdaq:ADHD), an emerging biopharmaceutical company primarily focused on the development and commercialization of a proprietary drug, MG01CI, to treat Attention Deficit Hyperactivity Disorder, today announced the closing of its previously announced initial public offering of 3,125,000 ordinary shares at an initial public offering price of $8.00 per share. The gross proceeds to Alcobra from the initial public offering were $25,000,000, before underwriting discounts and commissions and other offering expenses. Alcobra has granted the representative of the underwriters a 45-day option to purchase up to 458,125 additional ordinary shares from Alcobra to cover over-allotments, if any.

Aegis Capital Corp. acted as sole book-running manager for the offering.

Sunrise Securities Corp. and Feltl & Company acted as co-managers for the offering.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission on May 21, 2013.

This offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained by contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: prospectus@aegiscap.com or by accessing the Securities Exchange Commission's website www.sec.gov.

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 Attention Deficit Hyperactivity Disorder. 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. Moran Meir-Beres +011972-3-5167620 moran@km-ir.co.ilSource:Alcobra Ltd.