Context Therapeutics Inc. Announces $31.25 Million Private Placement
December 01 2021 - 6:30PM
Context Therapeutics Inc. (Nasdaq: CNTX) ("Context Therapeutics" or
the "Company"), a women’s oncology company developing small
molecule and immunotherapy treatments to transform care for breast
and gynecological cancers, today announced that it has entered into
definitive securities purchase agreements for a private placement
with accredited investors of 5,000,000 shares of common stock of
Context Therapeutics together with warrants to purchase 5,000,000
shares of common stock (“Warrants”), which will result in gross
proceeds to Context Therapeutics of approximately $31.25 million,
before deducting placement offering expenses. Each share of common
stock and accompanying Warrant are being sold together at a
combined offering price of $6.25. The Warrants have a five and
one-half year term and an exercise price of $6.25 per share. This
private placement is expected to close on December 6, 2021, subject
to customary closing conditions.
The securities offered and sold by Context Therapeutics in the
private placement have not been registered under the Securities Act
of 1933, as amended (the "Securities Act"), or state securities
laws and may not be offered or sold in the United States absent
registration with the Securities and Exchange Commission (the
"SEC") or an applicable exemption from such registration
requirements. Context Therapeutics has agreed to file a
registration statement with the SEC covering the resale of the
shares of common stock and shares underlying the Warrants to be
issued in the private placement. Any resale of Context
Therapeutics’ shares under such resale registration statement will
be made only by means of a prospectus.
This press release shall 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 state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The securities will not be registered under the
Securities Act or any state securities laws when issued at the
closing of the private placement, and unless so registered, may not
be offered or sold in the United States except pursuant to an
exemption from the registration requirements of the Securities Act
and applicable state laws.
About Context
Therapeutics®Context Therapeutics Inc.
(Nasdaq: CNTX), is a women’s oncology company developing small
molecule and immunotherapy treatments to transform care for breast
and gynecological cancers. The company’s robust clinical program
for lead candidate onapristone extended release (ONA-XR) comprises
three Phase 2 clinical trials and one Phase 1b/2 clinical trial in
hormone-driven breast, ovarian and endometrial cancer, as well as
two Phase 0 biomarker pharmacodynamic trials in breast cancer.
ONA-XR is a novel, first-in-class small molecule under development
as a complete antagonist of the progesterone receptor, a key
unchecked mechanism in hormone-driven women’s cancers. Context is
headquartered in Philadelphia, PA. For more information, visit
www.contexttherapeutics.com.
Forward-Looking Statements
This press release contains “forward-looking statements” that
involve substantial risks and uncertainties for purposes of the
safe harbor provided by the Private Securities Litigation Reform
Act of 1995. Any statements, other than statements of historical
fact, included in this press release regarding strategy, future
operations, prospects, plans and objectives of management,
including words such as "may," "will," "expect," "anticipate,"
"plan," "intend," and similar expressions (as well as other words
or expressions referencing future events, conditions or
circumstances) are forward-looking statements. These include,
without limitation, statements regarding (i) the likelihood of the
closing of the private placement, (ii) the likelihood of the future
exercise of the Warrants issued in connection with the private
placement, (iii) the likelihood data will support future
development, (iv) the potential benefits of the product candidates,
and (v) the likelihood of obtaining regulatory approval of our
product candidates. Forward-looking statements in this release
involve substantial risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by the
forward-looking statements, and we, therefore cannot assure you
that our plans, intentions, expectations or strategies will be
attained or achieved. Other factors that may cause actual results
to differ from those expressed or implied in the forward-looking
statements in this press release are discussed in our filings with
the U.S. Securities and Exchange Commission, including the
section titled “Risk Factors” contained therein. Except as
otherwise required by law, we disclaim any intention or obligation
to update or revise any forward-looking statements, which speak
only as of the date they were made, whether as a result of new
information, future events or circumstances or otherwise.
For further information, please contact:
Media Contact:Gina Cestari6
Degrees971-797-7904gcestari@6degreespr.com
Investor Relations Contact:Laine YonkerEdison
Grouplyonker@edisongroup.com
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