Context Therapeutics Inc. Announces Closing of $31.25 Million Private Placement
December 06 2021 - 4:45PM
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 closed its
previously announced private placement for the sale 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 resulted in gross proceeds to Context Therapeutics of
approximately $31.25 million, before deducting offering expenses
(the “Offering”). Each share of common stock and accompanying
Warrant were sold 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.
ThinkEquity acted as sole placement agent for
the Offering.
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 the shares of common stock
underlying the Warrants to be issued in the private placement. Any
resale of Context Therapeutics’ shares of common stock 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 were not registered under the
Securities Act or any state securities laws, 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
TherapeuticsContext 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 future exercise of the Warrants issued in
connection with the Offering, (ii) the likelihood data will support
future development, (iii) the potential benefits of the product
candidates, and (iv) 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
Degrees917-797-7904gcestari@6degreespr.com
Investor Relations Contact:Laine YonkerEdison
Grouplyonker@edisongroup.com
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