INDAPTUS THERAPEUTICS (INDP)

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Intec Pharma Announces $5.0 Million Registered Direct Offering
3:33 pm ET May 4, 2020 (Globe Newswire) Print
Intec Pharma Ltd. (NASDAQ: NTEC) ("Intec" or "the Company"), today announced that it has entered into definitive agreements with several institutional and accredited investors for the purchase and sale of 16,291,952 of the Company's ordinary shares, at a purchase price of $0.30690 per share, in a registered direct offering. Intec has also agreed to issue to the investors unregistered warrants to purchase up to an aggregate of 8,145,976 ordinary shares. The offering is expected to close on or about May 6, 2020, subject to satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The warrants will have a term of five and one-half years, be exercisable immediately and have an exercise price of $0.245 per ordinary share.

The gross proceeds to Intec from this offering are expected to be approximately $5.0 million, before deducting the placement agent's fees and other offering expenses. The Company intends to use the net proceeds from the offering to fund its research and development activities and for working capital and general corporate purposes.

The ordinary shares (but not the warrants or the ordinary shares underlying the warrants) are being offered by Intec pursuant to a "shelf" registration statement on Form S-3 (File No. 333-230016) previously filed with the Securities and Exchange Commission (the "SEC") on March 1, 2019 and declared effective by the SEC on March 28, 2019. The offering of the ordinary shares will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the ordinary shares being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at [phone] or e-mail at