Bellicum Pharmaceuticals Announces Pricing of $139.6 Million Public Offering and Private Placement

On August 16, 2019 Bellicum Pharmaceuticals, Inc. (Nasdaq: BLCM), a leader in developing novel, controllable cellular immunotherapies for cancers and orphan inherited blood disorders, reported the pricing of an underwritten public offering of 575,000 shares of its Series 1 preferred stock and warrants to purchase up to 57,500,000 shares of its common stock (Press release, Bellicum Pharmaceuticals, AUG 16, 2019, View Source [SID1234538817]). Each share of Series 1 preferred stock is being sold together with one warrant to purchase 100 shares of common stock (or, in certain circumstances, one warrant to purchase one share of Series 1 preferred stock) at a combined price to the public of $100.00. The warrants will be immediately exercisable and will expire seven years from the date of issuance. The aggregate offering size, before deducting the underwriting discounts and commissions and other offering expenses, is expected to be approximately $57.5 million.

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The offering is expected to close on or about August 21, 2019, subject to customary closing conditions.

Jefferies and Wells Fargo Securities are acting as the book-running managers for the offering. Ladenburg Thalmann is acting as a co-manager.

The securities described above are being offered by Bellicum pursuant to a shelf registration statement filed by Bellicum with the Securities and Exchange Commission (SEC), which was declared effective on July 30, 2019. A preliminary prospectus supplement related to the offering was filed with the SEC and is available for free on the SEC’s website at View Source Copies of the preliminary prospectus supplement and the accompanying prospectus related to this offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by e-mail at [email protected]; or Wells Fargo Securities, LLC, 375 Park Avenue, New York, NY 10152, Attn: Equity Syndicate Department, by phone at (800) 326-5897, or by email at [email protected].

Concurrent with the pricing of the public offering, Bellicum entered into an agreement with certain institutional investors providing for a private placement exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to which Bellicum has agreed to sell at two or more separate closings, each at the option of the investors and subject to certain conditions, shares of its Series 2 preferred stock and warrants to purchase common stock, and shares of Series 3 preferred stock and warrants to purchase common stock, for aggregate gross proceeds of up to $70.0 million. In connection with the agreement for the private placement, the investors in the private placement will pay Bellicum an upfront option fee of approximately $12.1 million.

This press release shall not constitute an offer to sell or the 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 registration or qualification under the securities laws of any such state or jurisdiction.