On June 15, 2020 Celldex Therapeutics, Inc. ("Celldex" or the "Company") (Nasdaq: CLDX), reported the pricing of its previously announced underwritten public offering. Celldex is offering 13,377,926 shares of its common stock, par value $0.001 per share, at a price to the public of $9.75 per share (Press release, Celldex Therapeutics, JUN 15, 2020, View Source [SID1234561141]). In connection with the offering, Celldex has also granted the underwriter a 30-day option to purchase up to an additional 2,006,688 shares of common stock offered in the public offering, at the same public offering price per share less underwriting discounts and commissions.
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Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. H.C. Wainwright & Co. is acting as co-manager for the offering.
The Company expects to receive gross proceeds from the offering, excluding the exercise of the underwriter’s option, if any, of approximately $130.4 million, excluding underwriting discounts and commissions and other offering-related expenses. Assuming the full exercise of the underwriter’s option, gross proceeds would be approximately $150.0 million.
Celldex intends to use the net proceeds from the offering to continue clinical and preclinical development of its product candidates and for general corporate purposes.
The offering is expected to close on June 18, 2020, subject to customary closing conditions.
The securities described above are being offered pursuant to a prospectus supplement and an accompanying base prospectus forming part of a shelf registration statement on Form S-3 (File No. 333-235399), which was declared effective by the Securities and Exchange Commission ("SEC") on June 12, 2020. A final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website located at View Source When available, copies of the final prospectus supplement and the accompanying base prospectus may be obtained for free by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by e-mail at [email protected].
The offering will be made only by means of a prospectus. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other 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 other jurisdiction.