On February 18, 2021 Infinity Pharmaceuticals, Inc. (Nasdaq: INFI) ("Infinity" or the "Company"), a clinical-stage biotechnology company developing eganelisib, a potentially first-in-class, oral, immuno-oncology macrophage reprogramming therapeutic which addresses a fundamental biologic mechanism of immune suppression in cancer, reported the closing of the sale of 24,150,000 shares of its common stock at a public offering price of $3.80 per share in its previously announced underwritten public offering, including 3,150,000 shares sold upon the exercise in full of a 15% over-allotment option by the underwriters (Press release, Infinity Pharmaceuticals, FEB 18, 2021, View Source [SID1234575261]). The gross proceeds to the Company from this offering were approximately $91.8 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The offering closed on February 17, 2021.
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Piper Sandler & Co. acted as sole book-runner for the offering. Truist Securities, Inc. and JonesTrading Institutional Services LLC acted as co-managers for the offering.
Infinity intends to use net proceeds from the offering for the continued clinical development of eganelisib, for general corporate purposes and for working capital.
The offering was made pursuant to a shelf registration statement on Form S-3 (File No. 333-230258) that was filed with the Securities and Exchange Commission ("SEC") on March 14, 2019 and declared effective on April 29, 2019 and a related registration statement on Form S-3 (File No.333-253026) that was filed pursuant to Rule 462(b) and which became automatically effective on February 11, 2021. The offering was made only by a means of a written prospectus and a prospectus supplement that form a part of the registration statement. A final prospectus supplement relating to the offering and the accompanying base prospectus and the registration statements have been filed with the SEC and are available for free on the SEC’s website located at View Source Copies of the registration statements, the final prospectus supplement and accompanying base prospectus may also be obtained by contacting: Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924, or by email at [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 offer, solicitation, or sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful.