BOSTON, Nov. 24, 2020 /PRNewswire/ -- Stealth
BioTherapeutics Corp (Nasdaq: MITO) ("Stealth" or the
"Company"), a clinical-stage biotechnology company focused on the
discovery, development and commercialization of novel therapies for
diseases involving mitochondrial dysfunction, today announced the
closing of its previously announced registered direct offering
of 2,844,446 of its American Depositary Shares ("ADSs"), each
ADS representing 12 ordinary shares of the Company. The
purchase price for one ADS was $1.125.
H.C. Wainwright & Co. acted as the exclusive placement
agent for the offering.
The gross proceeds from this offering were
approximately $3.2 million.
The ADSs described above were offered pursuant to a "shelf"
registration statement (File No. 333-237542) filed with the
Securities and Exchange Commission (SEC) and declared effective on
April 10, 2020. The ADSs were offered
only by means of a prospectus, including a prospectus supplement,
forming a part of the effective registration statement. A
prospectus supplement and the accompanying prospectus relating to
the offering of the ADSs were filed with the SEC on November 20, 2020. Electronic copies of the
prospectus supplement and the accompanying prospectus relating to
the offering of ADSs may be obtained on the SEC's website at
http://www.sec.gov or by contacting H.C. Wainwright & Co.,
LLC at 430 Park Avenue, 3rd Floor, New
York, NY 10022, by e-mail: placements@hcwco.com or by
telephone: (646) 975-6996.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale 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.
About Stealth
We are a clinical-stage biotechnology company focused on the
discovery, development, and commercialization of novel therapies
for diseases involving mitochondrial dysfunction. Mitochondria,
found in nearly every cell in the body, are the body's main source
of energy production and are critical for normal organ
function.
Investor Relations
Stern Investor Relations
Janhavi Mohite, 212-362-1200
IR@StealthBT.com
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SOURCE Stealth BioTherapeutics Inc.