GMDA - Gamida Cell stock dips after pricing $23M securities offering

2023-04-19 08:23:18 ET

• Gamida Cell ( NASDAQ: GMDA ) shares fell 20% premarket on Wednesday after the cell therapy firm priced its securities offering to raise $22.8M in gross proceeds.
• The offering consists of 17.5M ordinary shares and accompanying warrants to purchase 17.5M ordinary shares, issued at a public offering price of $1.30 per ordinary share and accompanying warrant.
• In addition, underwriters have been granted a 30-day option to purchase up to an additional 2,625,000 ordinary shares and/or warrants on the same terms.
• The warrants are exercisable immediately upon issuance at $1.35 per share and will expire five years following the date of issuance.
• The company plans to use the net proceeds from this offering, together with its existing cash and cash equivalents and trading financial assets, to fund: (i) commercialization activities to support the launch of Omisirge; (ii) the continued clinical development of GDA-201; and (iii) general corporate purposes, including general and administrative expenses and working capital.
• The offering is expected to close on or about April 21, 2023, subject to satisfaction of customary closing conditions.

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