Gamida Cell Announces Pricing of $23 Million Public Offering of Securities
April 19 2023 - 7:15AM
Business Wire
Gamida Cell Ltd. (Nasdaq: GMDA), a cell therapy pioneer working
to turn cells into powerful therapeutics, today announced the
pricing of an underwritten public offering of 17,500,000 ordinary
shares and accompanying warrants to purchase 17,500,000 ordinary
shares at a public offering price of $1.30 per ordinary share and
accompanying warrant, for gross proceeds of approximately $22.8
million, before deducting underwriting discounts and commissions
and estimated offering expenses. The warrants have an exercise
price of $1.35 per share, are exercisable immediately upon
issuance, and will expire five years following the date of
issuance. In addition, Gamida Cell has granted the underwriters a
30-day option to purchase up to an additional 2,625,000 ordinary
shares and/or warrants on the same terms. The offering is expected
to close on or about April 21, 2023, subject to satisfaction of
customary closing conditions.
Gamida Cell intends 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.
Piper Sandler & Co. is acting as sole manager for this
offering.
A registration statement on Form S-3 (File No. 333-259472)
relating to the securities has been filed with the Securities and
Exchange Commission and declared effective on April 1, 2022. This
offering will be made only by means of a prospectus supplement. A
preliminary prospectus supplement relating to the offering was
filed with the SEC on April 19, 2023 and is available on the SEC’s
website at http://www.sec.gov. Copies of the final prospectus
supplement and the accompanying prospectus related to this offering
may be obtained, when available, from: Piper Sandler & Co., 800
Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, Attention:
Prospectus Department, by telephone at (800) 747-3924 or by email
at prospectus@psc.com. Investors may also obtain these documents at
no cost by visiting the SEC’s website at http://www.sec.gov.
This press release shall 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 jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Gamida Cell
Gamida Cell is a cell therapy pioneer working to turn cells into
powerful therapeutics. The company’s proprietary nicotinamide (NAM)
technology leverages the properties of NAM to enhance and expand
cells, creating allogeneic cell therapy products and candidates
that are potentially curative for patients with hematologic
malignancies. These include Omisirge®, an FDA-approved nicotinamide
modified allogeneic hematopoietic progenitor cell therapy, and
GDA-201, an intrinsic NK cell therapy candidate being investigated
for the treatment of hematologic malignancies.
Forward Looking Statements
This press release contains forward-looking statements as that
term is defined in the Private Securities Litigation Reform Act of
1995, including with respect to the use of proceeds and timing and
consummation of the closing of the offering. These forward-looking
statements are subject to a number of risks, uncertainties and
assumptions, including those that are described in the Risk Factors
sections of the preliminary prospectus supplement for such offering
filed with the SEC on April 19, 2023, and the documents
incorporated by reference therein, including without limitation the
Company’s Annual Report on Form 10-K filed with the SEC on March
31, 2023, the accompanying prospectus and other filings that Gamida
Cell makes with the SEC from time to time (which are available at
http://www.sec.gov), any of which could cause the events and
circumstances discussed in such forward-looking statements to not
occur on the terms described or at all. Prospective investors are
cautioned not to place undue reliance on such forward-looking
statements, which speak only as of the date hereof. Gamida Cell
undertakes no obligation to update any such forward-looking
statements after the date hereof, except as required by law.
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