On February 8, 2021 Tyme Technologies, Inc. (NASDAQ: TYME), an emerging biotechnology company developing cancer metabolism-based therapies (CMBTs), reported that today it closed its previously announced registered direct offering of 40,000,000 shares of its common stock, par value $0.0001 per share, at a purchase price of $2.50 per share, priced at-the-market under Nasdaq rules (Press release, TYME, FEB 8, 2021, View Source [SID1234574749]). The gross proceeds of the offering were $100 million, prior to deducting placement agent’s fees and other offering expenses payable by TYME.
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H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
TYME intends to use the net proceeds from the offering for the development of the company’s clinical and preclinical assets and for general corporate purposes, capital expenditures, working capital and general and administrative expenses. TYME may also use a portion of the net proceeds to acquire or invest in businesses, products and technologies that are complementary to its own, although it has no current plans, commitments or agreements with respect to any acquisitions as of the date of this communication.
The shares of common stock described above were offered pursuant to a "shelf" registration statement (File No. 333-245033) filed with the Securities and Exchange Commission ("SEC") on August 12, 2020 and declared effective on September 2, 2020. Such shares of common stock were offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the offering of the shares of common stock were filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering of the shares of common stock may be obtained on the SEC’s website at View Source or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail: [email protected] or by telephone: (646) 975-6996.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities of the company, 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 that state or jurisdiction.