On April 18, 2019 Actinium Pharmaceuticals, Inc. (NYSE AMERICAN: ATNM) ("Actinium") reported the pricing of an underwritten public offering of 42,860,000 shares of its common stock at a combined public offering price of $0.385 per share of common stock (Press release, Actinium Pharmaceuticals, APR 18, 2019, View Source [SID1234535191]). The Company also announced the pricing of warrants to purchase up to 42,860,000 shares of common stock at an exercise price of $0.50 per share and with a term of 5 years commencing on the date of issuance. The offering is expected to close on or about April 23, 2019, subject to the satisfaction of customary closing conditions. The gross proceeds to Actinium from this offering are expected to be $16.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Actinium. Actinium intends to use the net proceeds from the sale of the common stock and warrants to fund its ongoing pivotal, Phase 3 SIERRA trial for its lead product candidate Iomab-B and progress Phase 1 trials from its refocused CD33 program to the proof of concept stage. Actinium will also use the proceeds to support its antibody warhead enabling technology platform, including its Iomab-ACT program, research and development and general working capital needs.
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William Blair & Company, L.L.C. is acting as sole bookrunner for the offering.
The shares and warrants are being offered pursuant to an effective shelf registration statement (including a prospectus) on Form S-3 (File No. 333-216748) filed with the U.S. Securities Exchange Commission (the "SEC"). A preliminary prospectus supplement, dated April 17, 2019 and accompanying prospectus, dated October 24, 2017, relating to the offering have been filed with the SEC. To obtain a copy of the preliminary prospectus supplement, dated April 17, 2019, and the final prospectus supplement (when available) for this offering, please contact William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by calling (800) 621-0687, or emailing [email protected].
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 the registration or qualification under the securities laws of such state or jurisdiction.