Catalyst Biosciences Announces Closing of a $20.7 Million Underwritten Public Offering and Full Exercise of Over-Allotment Op...
April 12 2017 - 4:01PM
Catalyst Biosciences, Inc. (NASDAQ:CBIO), a clinical-stage
biopharmaceutical company focused on developing novel medicines to
address hematology indications, today announced the closing of an
underwritten public offering of units for gross proceeds of $20.7
million, which includes the full exercise of the underwriters’
over-allotment option to purchase additional shares and warrants,
prior to deducting underwriting discounts and commissions and
offering expenses payable by Catalyst.
The offering was comprised of Class A Units,
priced at a public offering price of $5.00 per unit, with each unit
consisting of one share of common stock and a five-year warrant
(each, a “warrant”) to purchase one-half share of common stock with
an exercise price of $5.50 per share, and Class B Units, priced at
a public offering price of $1,000 per unit, with each unit
comprised of one share of preferred stock, which is convertible
into 200 shares of common stock, and a warrant to purchase 100
shares of common stock, also with an exercise price of $5.50 per
share. The conversion price of the preferred stock issued in the
transaction as well as the exercise price of the warrants are fixed
and do not contain any variable pricing features or any price based
anti-dilutive features. The preferred stock issued in this
transaction includes a beneficial ownership blocker but has no
dividend rights (except to the extent that dividends are also paid
on the common stock), liquidation preference or other preferences
over common stock, and, with certain exceptions, has no voting
rights. The securities comprising the units were immediately
separable and have been issued separately.
Ladenburg Thalmann & Co. Inc., a subsidiary
of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), acted
as sole book-running manager in connection with the offering.
A total of 1,470,000 shares of common stock,
13,350 shares of preferred stock convertible into 2,670,000 shares
of common stock, and total warrants to purchase 2,070,000 shares of
common stock were issued in the offering, including the full
exercise of the over-allotment option.
The securities were offered pursuant to a
registration statement on Form S-1 (File No. 333-216663) and an
additional registration statement filed pursuant to Rule 462(b),
which was declared effective by the United States Securities and
Exchange Commission ("SEC") on April 6, 2017.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy, nor will there be
any sales of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such jurisdiction. A
final prospectus relating to this offering has been filed by
Catalyst with the SEC. Copies of the final prospectus may be
obtained at the SEC’s website at www.sec.gov or from Ladenburg
Thalmann & Co. Inc., Prospectus Department, 277 Park Avenue,
26th Floor, New York, New York 10172, by calling (212)
409-2000.
About Catalyst Catalyst is a clinical-stage
biopharmaceutical company focused on developing novel medicines to
address hematology indications. Catalyst is focused on the field of
hemostasis, including the subcutaneous prophylaxis of hemophilia
and facilitating surgery in individuals with hemophilia. For more
information, please visit www.catalystbiosciences.com.
Contacts:
Investors:
Fletcher Payne, CFO
Catalyst Biosciences, Inc.
+1.650.871.0761
investors@catbio.com
Media:
Denise Powell
Red House Consulting, LLC
+1.510.703.9491
denise@redhousecomms.com
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