BriaCell Announces Pricing of US$25 Million Public Offering and Nasdaq Listing
February 23 2021 - 10:05PM
BriaCell Therapeutics Corp. (TSX-V:BCT) (NASDAQ: BCTX,
BCTXW) (“BriaCell” or the “Company”), a clinical-stage
biotechnology company specializing in targeted immunotherapies for
advanced breast cancer, today announced the pricing of an
underwritten public offering in the United States of 5,882,353
units, each unit consisting of one share of common stock and one
warrant to purchase one share of common stock (or units consisting
of one pre-funded common stock purchase warrant (“Pre-Funded
Warrant”) and one warrant to purchase one share of common stock, in
lieu thereof). Each unit is being sold to the public at a price of
US$4.25 (inclusive of the exercise price of the Pre-Funded Warrant,
in the case of the units containing Pre-Funded Warrants). The
gross proceeds to the Company from the offering are expected to be
approximately US$25 million before deducting underwriting
discounts, commissions and other offering expenses. The warrants
will have a per share exercise price of US$5.3125, be exercisable
immediately, and expire five years from the date of issuance. The
Pre-Funded Warrants will be exercisable at any time after the
date of issuance upon payment of the exercise price of
$0.01 per common share. The common stock (or Pre-Funded
Warrant) and warrants that are part of the units can only be
purchased together in the offering but will be issued
separately.
The common shares and warrants have been
approved to list on the Nasdaq Capital Market under the symbols
BCTX and BCTXW respectively, and are expected to begin trading on
February 24, 2021.
The Company has granted the underwriter a 45-day
option to purchase up to 882,352 additional shares of common stock
and/or Pre-Funded Warrants and/or up to 882,352 additional warrants
to cover over-allotments, if any.
The offering is expected to close on February
26, 2021, subject to satisfaction of customary closing
conditions.
ThinkEquity, a division of Fordham Financial
Management, Inc., is acting as sole book-running manager for the
offering.
The estimated gross proceeds to the Company are
expected to be approximately US$25 million prior to deducting
underwriting discounts, commissions and other estimated offering
expenses. The Company intends to use the proceeds to fund clinical
trials, research and development, and for general working capital
and general corporate purposes.
A registration statement on Form F-1 (File No.
333-234292) relating to the shares was filed with the Securities
and Exchange Commission (“SEC”) and became effective on February
23, 2021. This offering is being made only by means of a
prospectus. Copies of the final prospectus, when available, may be
obtained from ThinkEquity, a division of Fordham Financial
Management, Inc., 17 State Street, 22nd Floor, New York, New York
10004, by telephone at (877) 436-3673, by email at
prospectus@think-equity.com. The final prospectus will be filed
with the SEC and will be available on the SEC’s website located
at http://www.sec.gov.
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 any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About BriaCell Therapeutics
Corp.
BriaCell is an immuno-oncology focused
biotechnology company developing targeted and effective approaches
for the management of cancer.
For additional information on BriaCell, please
visit: https://briacell.com/.
Forward Looking Statements
This press release contains “forward-looking
statements” that are subject to substantial risks and
uncertainties. All statements, other than statements of historical
fact, contained in this press release are forward-looking
statements. Forward-looking statements contained in this press
release may be identified by the use of words such as “anticipate,”
“believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,”
“seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,”
“target,” “aim,” “should,” "will” “would,” or the negative of these
words or other similar expressions, although not all
forward-looking statements contain these words. Forward-looking
statements are based on BriaCell’s current expectations and are
subject to inherent uncertainties, risks and assumptions that are
difficult to predict. Further, certain forward-looking statements
are based on assumptions as to future events that may not prove to
be accurate. These and other risks and uncertainties are described
more fully in the section titled “Risk Factors” in the prospectus
related to the public offering filed with the Securities and
Exchange Commission. Forward-looking statements contained in this
announcement are made as of this date, and BriaCell Therapeutics
Corp. undertakes no duty to update such information except as
required under applicable law.
Contact Information
BriaCell Therapeutics
Corp.:William V. Williams, MDPresident & CEOPhone:
1-888-485-6340
BriaCell Therapeutics
Corp.:Farrah DeanManager, Corporate DevelopmentEmail:
farrah@BriaCell.comPhone: 1-888-485-6340
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