On April 24, 2023 MAIA Biotechnology, Inc. (NYSE: MAIA) ("MAIA" or the "Company"), a clinical-stage biopharmaceutical company developing targeted immunotherapies for cancer, reported the pricing of an underwritten public offering of 2,222,200 shares of its common stock at a public offering price of $2.25 per share, for gross proceeds of approximately $5 million, before deducting underwriting discounts and other offering expenses (Press release, MAIA Biotechnology, APR 24, 2023, View Source [SID1234630454]). In addition, MAIA has granted the underwriters a 45-day option to purchase up to an additional 333,300 shares of common stock to cover over-allotments at the public offering price, less the underwriting discount.

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The Company intends to use the net proceeds to fund the ongoing clinical trials of THIO, pre-clinical development of second-generation of telomere targeting compounds, and other research and development activities, as well as for working capital and other general corporate purposes.

The offering is expected to close on April 27, 2023, subject to satisfaction of customary closing conditions.

ThinkEquity is acting as sole book-runner for the offering.

A registration statement on Form S-1 (File No. 333-269606) relating to the shares being sold was filed with the Securities and Exchange Commission ("SEC") and became effective on April 24, 2023. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at [email protected]. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at View Source

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.