ALXO - ALX Oncology Announces Closing of Public Offering Including Full Exercise of Underwriters' Option to Purchase Additional Shares | Benzinga
SOUTH SAN FRANCISCO, Calif., Oct. 10, 2023 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., ("ALX Oncology" or the "Company") (NASDAQ:ALXO), an immuno-oncology company developing therapies that block the CD47 immune checkpoint pathway, today announced the closing of its previously announced underwritten public offering of common stock and pre-funded warrants. ALX Oncology sold 8,663,793 shares of common stock, which included 1,293,103 shares of common stock pursuant to the full exercise of the underwriters' option to purchase additional shares and, in lieu of common stock to certain investors, pre-funded warrants to purchase 1,250,000 shares of common stock in the offering. The shares of common stock were sold at a public offering price of $6.38 per share, the closing price on October 4, 2023, and the pre-funded warrants were sold at a public offering price of $6.379 per pre-funded warrant. The gross proceeds to ALX Oncology from this offering were approximately $63.2 million, before deducting the underwriting discounts and commissions and other estimated offering expenses, and excluding the exercise of any pre-funded warrants. All shares of common stock and pre-funded warrants were offered by the Company.
ALX Oncology anticipates using the net proceeds from the offering to fund the continued clinical development of evorpacept and the related clinical trials, including ASPEN-06 clinical trial, and for working capital and other general corporate ...