IPA Announces Proposed Public Offering of Common Shares
December 05 2023 - 3:35PM
Business Wire
ImmunoPrecise Antibodies Ltd. (NASDAQ: IPA) (“ImmunoPrecise” or
“IPA” or the “Company”), today announced that it intends to offer
and sell common shares in an underwritten public offering. All of
the common shares in the underwritten public offering are to be
sold by the Company. The Company also expects to grant the
underwriters a 30-day option to purchase up to an additional 15% of
the number of common shares offered in the public offering solely
to cover over-allotments, if any. The offering is subject to market
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
The Company intends to use the net proceeds from the proposed
offering for research and development; capital expenditures,
including expansion of existing laboratory facilities; and working
capital and general corporate purposes.
The Benchmark Company LLC is acting as the sole book-running
manager for the offering.
The securities will be offered and sold pursuant to a shelf
Registration Statement on Form F-3 (File No. 333-273197) that was
declared effective by the United States Securities and Exchange
Commission (the “SEC”) on July 14, 2023. A preliminary prospectus
supplement and accompanying prospectus describing the terms of the
offering will be filed with the SEC and will be available on its
website at www.sec.gov. Copies of the preliminary prospectus
supplement and the accompanying prospectus relating to the offering
may also be obtained by contacting The Benchmark Company, LLC, 150
East 58th St., 17th Floor, New York, NY 10155, by telephone at
212-312-6700 or by email at prospectus@benchmarkcompany.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in Canada or any other 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 ImmunoPrecise Antibodies Ltd
ImmunoPrecise Antibodies Ltd. has several subsidiaries in North
America and Europe including entities such as Talem Therapeutics
LLC, BioStrand BV, ImmunoPrecise Antibodies (Canada) Ltd., and
ImmunoPrecise Antibodies (Europe) B.V. (collectively, the “IPA
Family”). The IPA Family is a biotherapeutic research and
technology group that leverages systems biology, multi-omics
modeling, and complex artificial intelligence systems to support
its proprietary technologies in bioplatform-based antibody
discovery. Services include highly specialized, full-continuum
therapeutic biologics discovery, development, and out-licensing to
support its business partners in their quest to discover and
develop novel biologics against the most challenging targets.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of applicable United States securities laws and
Canadian securities laws. Forward-looking statements are often
identified by the use of words such as “expects” “estimates”,
“intends”, “anticipates” or “believes”, or variations of such words
and phrases or state that certain actions, events or results “may”,
“would”, “might” or “will” be taken, occur or be achieved.
Forward–looking statements in this press release include statements
related to: the offering, including the timing, pricing and details
thereof; the over-allotment option; and expected use of proceeds
from the offering. Although the Company believes that we have a
reasonable basis for each forward-looking statement, we caution you
that these statements are based on a combination of facts and
factors currently known by us and our expectations of the future,
about which we cannot be certain. Our actual future results may be
materially different from what we expect due to factors largely
outside our control, including risks and uncertainties related to
market and other conditions, the satisfaction of customary closing
conditions related to the public offering including as to whether
or when the offering may be completed, the impact of general
economic, industry or political conditions in the United States,
Canada or internationally and those described under the heading
“Risk Factors” in the prospectus supplement related to the
offering. You should also consult our quarterly and annual filings
with the Canadian and U.S. securities commissions for additional
information on risks and uncertainties. These forward–looking
statements speak only as of the date of this press release and the
Company undertakes no obligation to revise or update any
forward–looking statements for any reason, even if new information
becomes available in the future.
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Investor contact: investors@ipatherapeutics.com
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