Friday, February 02, 2024 3:33:26 PM
I've been watching the shenanigans with this company for the last few months and wondered why the stock of a company that was going out of business would be sought after so heavily and be so volatile . I came to the conclusions of 1) some kind of short squeeze, or 2) a knight in shining armor was coming in at the eleventh hour to save the company, and some people (I think the term for this is "insider") in the know were doing some market manipulation to make a little more bank$. The following press release is, at least, part of the answer!
GAITHERSBURG, Md. , Feb. 02, 2024 (GLOBE NEWSWIRE) -- NexImmune, Inc. a biotechnology company developing a novel approach to immunotherapy designed to orchestrate a targeted immune response by directing the function of antigen-specific T cells in oncology, autoimmune and infectious diseases, today announced that it has entered into a definitive agreement with a single healthcare focused institutional investor for the issuance and sale of an aggregate of 304,731 of its shares of common stock (or common stock equivalents in lieu thereof) at a purchase price of $12.05 per share (or per common stock equivalent in lieu thereof) in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company has also agreed to issue and sell unregistered warrants to purchase up to an aggregate of 304,731 shares of its common stock. The unregistered warrants to be issued in this private placement will have an exercise price $12.05 per share, will become exercisable immediately upon issuance and have a term of two years from the date of issuance. The closing of the offering is expected to occur on or about February 6, 2024 , subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds to the Company from the offering are expected to be approximately $3.67 million , before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering to seek additional financing and pursue potential business development and/or collaboration opportunities, and for working capital and general corporate purposes.
As previously disclosed in January 2024 , the Company adjourned its special meeting of stockholders for the purpose of approving the liquidation and dissolution of the Company and the Plan of Liquidation and Dissolution (the “Special Meeting”), with the Special Meeting scheduled to reconvene on Wednesday, February 7, 2024 , at 10:00 a.m., Eastern Time in a virtual format. As a result of this offering, the Company expects to postpone the Special Meeting.
The shares of common stock (or common stock equivalents) offered in the registered direct offering (but excluding the unregistered warrants and the shares of common stock underlying such unregistered warrants) described above are being offered and sold by the Company pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-263399), including a base prospectus, previously filed with the Securities and Exchange Commission (SEC) on March 9, 2022 , and declared effective by the SEC on March 16, 2022 . The offering of the shares of common stock (or common stock equivalents) to be issued in the registered direct offering are being made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and an accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and accompanying base prospectus, when available, may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue , 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.
The offer and sale of the unregistered warrants are being made in a transaction not involving a public offering and have not been registered under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”) and/or Rule 506(b) of Regulation D promulgated thereunder and, along with the shares of common stock underlying such unregistered warrants, have not been registered under the Securities Act or applicable state securities laws. Accordingly, the unregistered warrants and the underlying shares of common stock may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, 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 the registration or qualification under the securities laws of any such state or jurisdiction.
Recent NEXI News
- Konzernergebnis zum 31. Dezember 2023 genehmigt, starke Margenausweitung und Liquiditätsüberschuss von 601 Millionen Euro, Aktienrückkaufprogramm von 500 Millionen Euro • Business Wire • 03/07/2024 06:20:00 PM
- Approbation des résultats financiers du groupe au 31 décembre 2023 ; forte expansion de la marge et génération d'excédents de trésorerie à hauteur de 601 millions d’euros ; programme de rachat d’actions de 500 millions d’euros • Business Wire • 03/07/2024 05:33:00 PM
- Approvati i risultati finanziari di Gruppo al 31 dicembre 2023, Forte espansione dell’EBITDA margin ed excess cash generation a € 601 milioni, € 500 milioni per acquisto di azioni proprie • Business Wire • 03/07/2024 06:31:00 AM
- Group Financial Results as of December 31st 2023 Approved, Strong Margin Expansion and Excess Cash Generation at € 601 Million, € 500 Million Share Buy-Back Program • Business Wire • 03/07/2024 06:30:00 AM
- NexImmune Announces Closing of $3.67 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules • GlobeNewswire Inc. • 02/06/2024 09:42:41 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 02/06/2024 09:30:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/05/2024 10:10:04 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 02/05/2024 09:34:15 PM
- NexImmune Announces $3.67 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules • GlobeNewswire Inc. • 02/02/2024 07:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/02/2024 06:25:31 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/01/2024 02:17:32 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/19/2024 09:43:51 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 01/18/2024 09:43:58 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/22/2023 09:01:51 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/01/2023 06:39:59 PM
- Form 144/A - Report of proposed sale of securities: [Amend] • Edgar (US Regulatory) • 11/22/2023 10:40:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/22/2023 10:18:01 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 11/21/2023 09:39:34 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 11/20/2023 10:19:01 PM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 11/20/2023 10:01:30 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/17/2023 09:03:42 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 11/15/2023 09:17:28 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 11/09/2023 10:47:49 PM
- Finanzergebnisse der Gruppe zum 30. September 2023 bestätigen solide finanzielle Leistung im Rahmen des Plans und kontinuierliche Ausweitung der EBITDA-Marge • Business Wire • 11/09/2023 02:35:00 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM