On August 12, 2021 PharmaCyte Biotech, Inc. (NASDAQ: PMCB) (PharmaCyte or Company), a biotechnology company focused on developing cellular therapies for cancer and diabetes using its signature live-cell encapsulation technology, Cell-in-a-Box, reported the closing of its previously announced underwritten public offering of approximately $15 million (Press release, PharmaCyte Biotech, AUG 12, 2021, View Source [SID1234586474]).
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The public offering includes 3,529,412 shares of the Company’s common stock (or pre-funded warrants to purchase common stock in lieu of common stock) and warrants to purchase up to an aggregate of 3,529,412 shares of common stock. In addition, PharmaCyte granted the underwriter a 30-day option to purchase up to an additional 529,411 shares of its common stock and/or accompanying warrants to purchase an aggregate of up to 529,411 shares of its common stock, which the underwriter has partially exercised for warrants to purchase an aggregate of up to 499,116 shares of common stock. At closing, PharmaCyte received net proceeds from the offering of approximately $13.6 million, after deducting underwriting discounts and commissions and estimated offering expenses. All of the securities in the offering were sold by PharmaCyte.
H.C. Wainwright acted as sole book-running manager for the offering.
The offering was made only by means of a written prospectus and related prospectus supplement forming part of PharmaCyte’s shelf registration statement on Form S-3 (File No. 333-255044) that was previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (SEC) on April 14, 2021. The final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by contacting H.C. Wainwright & Co., LLC, at 430 Park Ave., New York, New York 10022, by telephone at (212) 856-5711, or by email at [email protected].
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, 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.