$HTBX (-48.0% pre) Heat Biologics Prices $18 Million Public Offering - SI
Heat Biologics, Inc. ("Heat") (NASDAQ: HTBX), a biopharmaceutical company developing drugs designed to activate a patient's immune system against cancer, today announced the pricing of an underwritten public offering with gross proceeds of approximately $18,000,000, before deducting underwriting discounts, commissions and other offering expenses. The offering consists of: (i) 3,000,000 shares of our Common Stock together with a number of Common Warrants to purchase 1,500,000 shares of our Common Stock, and (ii) 9,500,000 Pre-funded Warrants, with each Pre-funded Warrant exercisable for one share of Common Stock, together with a number of Common Warrants to purchase 4,750,000 shares of our Common Stock. The Common Warrants will have an exercise price of $1.584, will be exercisable upon issuance and will expire five years from the date of issuance. Heat Biologics, Inc. has granted the underwriters a 45-day option to purchase up to an additional 1,875,000 shares of Common Stock and/or 937,500 Common Warrants to cover over-allotments if any. The offering is expected to close on May 7, 2018, subject to customary closing conditions.
A.G.P./Alliance Global Partners, offering securities through Euro Pacific Capital, Inc., is acting as the sole book-running manager for the offering.
CIM Securities, LLC is acting as a Co-Manager for the offering.
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