On August 15, 2019 Bellicum Pharmaceuticals, Inc. (Nasdaq: BLCM), a leader in developing novel, controllable cellular immunotherapies for cancers and orphan inherited blood disorders, reported that it is offering to sell, subject to market and other conditions, shares of its Series 1 preferred stock and warrants to purchase shares of its common stock in a public offering for aggregate gross proceeds of approximately $53.0 million (Press release, Bellicum Pharmaceuticals, AUG 15, 2019, View Source [SID1234538805]). 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. The warrants will be immediately exercisable and will expire seven years from the date of issuance.
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The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.
Jefferies and Wells Fargo Securities are acting as the book-running managers for the offering.
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 will be filed with the SEC and will be 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, when available, 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 offering, Bellicum intends to enter into an agreement with certain institutional investors, subject to the consummation of the public offering and other customary conditions, providing for a private placement exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to which Bellicum would agree 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 related warrants to purchase common stock, for aggregate gross proceeds of $70.0 million. In connection with the agreement for the private placement, Bellicum expects that the investors will pay an upfront option fee of approximately $12.0 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.