Aprea Therapeutics Announces Pricing of $5.5 Million Underwritten Public Offering of Common Stock
February 22 2023 - 7:41PM
Aprea Therapeutics, Inc. (Nasdaq: APRE) (“Aprea”, or the
“Company”), a biopharmaceutical company focused on developing novel
synthetic lethality-based cancer therapeutics targeting DNA damage
response (DDR) pathways, today announced the pricing of its
previously announced underwritten public offering of 1,050,000
shares of its common stock at a public offering price of $5.25 per
share. Gross proceeds from the offering, before deducting
underwriting discounts and commissions and estimated offering
expenses, are expected to be approximately $5.5 million before
deducting underwriting discounts and commissions and estimated
offering expenses. In addition, Aprea has granted the underwriter a
30-day option to purchase up to an additional 157,500 shares of
common stock.
The net proceeds received from the public
offering will enable the Company to continue developing its
clinical asset, ATRN-119, its pre-clinical asset ATRN-W1051 and for
general corporate purposes.
Maxim Group LLC is acting as sole book-running
manager for the offering.
The public offering is being made pursuant to an
effective shelf registration statement on Form S-3, as amended
(File No. 333-250041), previously filed with the U.S. Securities
and Exchange Commission (SEC) on November 12, 2020 and declared
effective on November 30, 2020. The securities may be offered only
by means of a prospectus. A preliminary prospectus supplement and
the accompanying prospectus relating to and describing the terms of
the public offering have been filed with the SEC, will form a part
of the effective registration statement and will be available on
the SEC’s website at www.sec.gov. Before you invest, you should
read the preliminary prospectus supplement and accompanying
prospectus, together with the information incorporated therein, for
more complete information about Aprea and the proposed offering.
The final terms of the offering will be disclosed in a final
prospectus supplement to be filed with the SEC. When available,
copies of the final prospectus supplement and accompanying
prospectus relating to the public offering may also be obtained by
contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New
York, NY 10022, Attention: Prospectus Department, or by telephone
at (212) 895-3745 or by email at syndicate@maximgrp.com.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About Aprea Therapeutics
Aprea Therapeutics, Inc. is a biopharmaceutical
company headquartered in Doylestown, Pennsylvania, focused on
developing and commercializing novel synthetic lethality-based
cancer therapeutics targeting a critical pathway and some of the
most central targets in DDR and cancer progression. The Company’s
lead program is ATRN-119, a clinical-stage small molecule ATR
inhibitor being developed for solid tumor indications. The
Company’s WEE1 inhibitor is being advanced to IND submission.
Forward Looking Statement
Certain information contained in this press
release includes “forward-looking statements,” within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
related to the anticipated offering. We may, in some cases use
terms such as “future,” “predicts,” “believes,” “potential,”
“continue,” “anticipates,” “estimates,” “expects,” “plans,”
“intends,” “targeting,” “confidence,” “may,” “could,” “might,”
“likely,” “will,” “should” or other words that convey uncertainty
of the future events or outcomes to identify these forward-looking
statements. Our forward-looking statements are based on current
beliefs and expectations of our management team that involve risks,
potential changes in circumstances, assumptions, and uncertainties.
Any or all of the forward-looking statements may turn out to be
wrong or be affected by inaccurate assumptions we might make or by
known or unknown risks and uncertainties. These forward-looking
statements are subject to risks and uncertainties including risks
related to the timing, size and expected gross proceeds of the
offering, the satisfaction of customary closing conditions related
to the offering and sale of shares, the grant to the underwriter of
an option to purchase additional shares, our ability to complete
the contemplated offering and the other risks set forth in our
filings with the U.S. Securities and Exchange Commission. For all
these reasons, actual results and developments could be materially
different from those expressed in or implied by our forward-looking
statements. You are cautioned not to place undue reliance on these
forward-looking statements, which are made only as of the date of
this press release. We undertake no obligation to publicly update
such forward-looking statements to reflect subsequent events or
circumstances.
Investors and Media:
aprea@argotpartners.com212-600-1902
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