IN8bio Announces Pricing of $10.25 Million Underwritten Public Offering of Common Stock
August 11 2022 - 9:05PM
IN8bio, Inc. (Nasdaq: INAB), a clinical-stage biopharmaceutical
company focused on the discovery and development of innovative
gamma-delta T cell therapies utilizing its DeltEx platform, today
announced the pricing of an underwritten public offering of
5,394,737 shares of its common stock at a public offering price
of $1.90 per share. IN8bio also granted the underwriter a
30-day option to purchase up to an additional 657,894 shares of
common stock at the public offering price, less underwriting
discounts and commissions. The offering is expected to close on or
about August 16, 2022, subject to the satisfaction of
customary closing conditions.
H.C. Wainwright & Co. is acting as the sole
book-running manager for the offering.
The gross proceeds to IN8bio from the offering
are expected to be approximately $10.25 million, before
deducting underwriting discounts and commissions and other offering
expenses and excluding any exercise of the underwriter’s option to
purchase additional shares.
A registration statement on Form S-1 (File No.
333-266620) relating to the securities sold in this offering was
declared effective by the Securities and Exchange Commission (SEC)
on August 11, 2022. The offering is being made only by means of a
prospectus that forms a part of the effective registration
statement. When available, electronic copies of the final
prospectus may be obtained for free on the SEC’s website at
http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC,
430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at
(212) 856-5711 or email at placements@hcwco.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any securities of
IN8bio, 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 IN8bio IN8bio is a
clinical-stage biopharmaceutical company focused on the discovery,
development and commercialization of gamma-delta T cell product
candidates for solid and liquid tumors. Gamma-delta T cells are a
specialized population of T cells that possess unique properties,
including the ability to differentiate between healthy and diseased
tissue. IN8bio’s DeltEx platform employs allogeneic, autologous,
iPSC and genetically modified approaches to develop cell therapies,
designed to effectively identify and eradicate tumor cells.
Forward Looking Statements This
press release may contain forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These statements may be identified by words
such as “aims,” “anticipates,” “believes,” “could,” “estimates,”
“expects,” “forecasts,” “goal,” “intends,” “may,” “plans,”
“possible,” “potential,” “seeks,” “will” and variations of these
words or similar expressions that are intended to identify
forward-looking statements, although not all forward-looking
statements contain these words. Forward-looking statements in this
press release include, but are not limited to, statements regarding
the completion of the offering, the satisfaction of customary
closing conditions relating to the offering and the use of the net
proceeds in this offering. IN8bio may not actually achieve the
plans, intentions or expectations disclosed in these
forward-looking statements, and you should not place undue reliance
on these forward-looking statements. Actual results or events could
differ materially from the plans, intentions and expectations
disclosed in these forward-looking statements as a result of
various factors, including: the uncertainties related to market and
other conditions and the completion of the public offering; and
other important factors, any of which could cause our actual
results to differ from those contained in the forward-looking
statements, are described in greater detail in the section entitled
“Risk Factors” in our Registration Statement on Form S-1 filed with
the SEC on August 8, 2022 and amended on August 9, 2022, our Annual
Report on Form 10-K filed with the SEC on March 17, 2022 and our
Quarterly Report on Form 10-Q filed with the SEC on May 12, 2022,
as well as in other filings IN8bio may make with the SEC in the
future. Any forward-looking statements contained in this press
release speak only as of the date hereof, and IN8bio expressly
disclaims any obligation to update any forward-looking statements
contained herein, whether because of any new information, future
events, changed circumstances or otherwise, except as otherwise
required by law.
Company Contact: IN8bio, Inc.
Patrick McCall + 1 646.600.6438 info@IN8bio.com
Investors: Solebury Trout David
Buck + 1 646.378.2927 dbuck@soleburytrout.com
Media: Burns McClellan, Inc.
Katie Larch / Robert Flamm, Ph.D. +1 212.213.0006
klarch@burnsmc.com / rflamm@burmsmc.com
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