- Immunotherapy company ImmunityBio ( NASDAQ: IBRX ) said it is launching ~$50M registered direct offering.
- The issuance of common stock as well as warrants for the purchase of additional shares will be made to a single institutional investor.
- ImmunityBio has agreed to sell 9,090,909 shares and issue accompanying warrants to purchase 9,090,909 shares with an exercise price of $6.60 per share, for a purchase price of $5.50 per share and accompanying warrant.
- The company has executed the financing for further working capital and support to the ongoing business operations.
- If the warrants are fully exercised, the offering could result in additional gross proceeds of up to $60M.
- Also, the biotechnology company will issue additional debt in an aggregate principal amount of $50M to Nant Capital, an entity affiliated with the company's executive chairman, Patrick Soon-Shiong.
- Also, another entity affiliated with the executive chairman, NantWorks, will also convert ~$56.6M of existing debt into shares at a conversion price of $5.67 per share.
- The offering is expected to close on or about Dec. 14.
- Source: Press Release
For further details see:
ImmunityBio to launch registered direct offering, issue debt