On November 26, 2018 Heat Biologics, Inc. (”Heat”) (NASDAQ: HTBX), a biopharmaceutical company developing drugs designed to activate a patient’s immune system against cancer, reported the closing of its previously announced underwritten public offering of 8,000,000 shares of its common stock together with warrants to purchase 4,000,000 shares of its common stock at a combined price to the public of $1.50 (Press release, Heat Biologics, NOV 26, 2018, View Source [SID1234531630]). The warrants have an exercise price of $1.65, are exercisable upon issuance and expire five years from the date of issuance. In addition, the underwriter exercised the over-allotment option to purchase an additional 1,200,000 shares of common stock and warrants to purchase 600,000 shares of common stock. Gross proceeds to Heat from this offering are approximately $13,800,000 before deducting underwriting discounts and commissions and other estimated offering expenses payable by Heat.

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A.G.P./Alliance Global Partners acted as the sole book-running manager for the offering.

CIM Securities, LLC acted as a financial advisor to Heat Biologics in connection with the offering.

The securities described above were offered by Heat Biologics, Inc. pursuant to a registration statement on Form S-3 (No. 333-221201) previously filed with the U.S. Securities and Exchange Commission ("SEC") and declared effective on November 13, 2017. A final prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at View Source Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 36th Floor, New York, NY 10022 or via telephone at 212-624-2006 or email: [email protected].

This press release does 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 offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.