Celldex Therapeutics Announces Pricing of Public Offering of Common Stock
November 07 2023 - 10:15PM
Celldex Therapeutics, Inc. (“Celldex” or the “Company”)
(Nasdaq: CLDX) today announced the pricing of an underwritten
public offering of 7,425,000 shares of its common stock at a public
offering price of $27.00 per share. In connection with the
offering, Celldex has granted the underwriters a 30-day option to
purchase up to an additional 1,113,750 shares of common stock at
the public offering price, less underwriting discounts and
commissions.
Jefferies, Leerink Partners, Guggenheim Securities and Cantor
are acting as the joint book-running managers for the offering.
LifeSci Capital and H.C. Wainwright & Co. are acting as co-lead
managers for the offering.
The Company expects to receive gross proceeds from the offering,
excluding the exercise of the underwriters’ option, if any, of
approximately $200.5 million, excluding underwriting discounts
and commissions and other offering-related expenses.
Celldex intends to use the net proceeds from the offering to
continue clinical and preclinical development of its product
candidates, including current and future development of
barzolvolimab, growing its bispecific antibody platform and
clinical candidates, funding ongoing efforts to develop additional
clinical pipeline products and for general corporate purposes.
The offering is expected to close on or about November 10,
2023, subject to customary closing conditions.
The securities described above are being offered pursuant to a
prospectus supplement and an accompanying base prospectus forming
part of a shelf registration statement on Form S-3 (File No.
333-275300), which was previously filed with the Securities
and Exchange Commission (“SEC”) and became automatically
effective on November 3, 2023. A final prospectus supplement
relating to the offering will be filed with the SEC and
will be available on the SEC’s website located
at http://www.sec.gov. When available,
copies of the final prospectus supplement and the accompanying base
prospectus may be obtained for free by contacting Jefferies
LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, New York, NY 10022,
by telephone at (877) 821-7388 or by e-mail
at prospectus_department@jefferies.com; or Leerink
Partners LLC, Syndicate Department, 53 State Street, 40th Floor,
Boston, MA 02109, or by telephone at (800) 808-7525 ext. 6105 or by
email at syndicate@leerink.com.
The offering will be made only by means of a prospectus. This
press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, 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 Celldex Therapeutics, Inc.
Celldex is a clinical stage biotechnology company leading the
science at the intersection of mast cell biology and the
development of transformative therapeutics for patients. Our
pipeline includes antibody-based therapeutics which have the
ability to engage the human immune system and/or directly affect
critical pathways to improve the lives of patients with severe
inflammatory, allergic and autoimmune and other devastating
diseases.
Forward Looking Statement
This release contains “forward-looking statements” made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These statements are typically preceded by
words such as “believes,” “expects,” “anticipates,” “intends,”
“will,” “may,” “should,” or similar expressions. These
forward-looking statements reflect management’s current knowledge,
assumptions, judgment and expectations regarding future performance
or events. Although management believes that the expectations
reflected in such statements are reasonable, they give no assurance
that such expectations will prove to be correct or that those goals
will be achieved, and you should be aware that actual results could
differ materially from those contained in the forward-looking
statements. Forward-looking statements are subject to a number of
risks and uncertainties, including, but not limited to, risks
associated with market conditions and the satisfaction of customary
closing conditions related to the offering. For a further
description of the risks and uncertainties that could cause actual
results to differ from those expressed in these forward-looking
statements, as well as risks relating to the Company’s business in
general, please refer to the Company’s prospectus supplement to be
filed with the SEC, and the documents incorporated by reference
therein, including the Company’s Form 10-K for the year ended
December 31, 2022 and Forms 10-Q for the quarters ended March 31,
2023, June 30, 2023 and September 30, 2023.
All forward-looking statements are expressly qualified in their
entirety by this cautionary notice. You are cautioned not to place
undue reliance on any forward-looking statements, which speak only
as of the date of this release. We have no obligation, and
expressly disclaim any obligation, to update, revise or correct any
of the forward-looking statements, whether as a result of new
information, future events or otherwise.
Company Contact
Sarah CavanaughSenior Vice President, Corporate Affairs &
AdministrationCelldex Therapeutics, Inc.(508)
864-8337scavanaugh@celldex.com
Patrick TillMeru Advisors(484)
788-8560ptill@meruadvisors.com
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