On August 9, 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 that the Company’s common stock is expected to begin trading on The Nasdaq Capital Market on August 10, 2021, under the symbol "PMCB (Press release, PharmaCyte Biotech, AUG 9, 2021, View Source [SID1234586155])." The Company also announced the pricing of its previously announced underwritten public offering.
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The offering consists of 3,529,412 shares of its 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. Each share of common stock (or pre-funded warrant in lieu thereof) is being sold together with one warrant to purchase one share of common stock at an effective combined public offering price of $4.25 per share of common stock and accompanying warrant, less underwriting discounts and commissions. The warrants have an exercise price of $4.25 per share, are exercisable immediately, and will expire five years following the date of issuance. PharmaCyte expects to receive gross proceeds from the underwritten public offering of approximately $15 million, before deducting underwriting discounts and commissions and other estimated offering expenses.
H.C. Wainwright is acting as sole book-running manager for the offering.
In addition, PharmaCyte has granted the underwriter a 30-day option to purchase up to an additional 529,411 shares of common stock and/or warrants to purchase up to an additional 529,411 shares of common stock at the public offering price, less the underwriting discounts and commissions.
All the securities being sold in the offering are being offered by PharmaCyte. The offering is expected to close on or about August 12, 2021, subject to satisfaction of customary closing conditions.
The securities described above are being offered by PharmaCyte pursuant to a 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 securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and accompanying base prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at View Source." target="_blank" title="View Source." rel="nofollow">View Source Electronic copies of the final prospectus supplement and the accompanying base prospectus relating to the offering will be filed with the SEC and, when available, will be on the SEC’s website at View Source and may also be obtained by contacting H.C. Wainwright & Co., LLC, at 430 Park Avenue, 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. Any offer, if at all, will be made only by means of the prospectus supplement and the accompanying prospectus forming a part of the registration statement.