IBRX - ImmunityBio announces $470M equity and debt financing from founder Patrick Soon-Shiong and Nant Entities
2023-09-11 06:26:56 ET
- ImmunityBio ( NASDAQ: IBRX ) Monday said it has executed financing transactions resulting in about $200 million of proceeds to the company.
- The transaction includes an exchange into equity of current debt and a new convertible debt instrument from Nant Capital, LLC, an entity affiliated with Dr. Patrick Soon-Shiong, the company’s Founder, Executive Chairman and Global Chief Scientific and Medical Officer.
- Exchange of $270 million of debt held by Nant Entities into ImmunityBio equity resulting in deleveraging of the company’s balance sheet.
- 200 million of a new 3-year term debt financing from Nant Capital convertible at a 50 percent premium to provide capital sufficient to support the company’s ongoing operations.
- IBRX +3.10% premarket to $1.33
- Source: Press Release
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ImmunityBio announces $470M equity and debt financing from founder Patrick Soon-Shiong and Nant Entities