PLYMOUTH MEETING, Pa.,
Jan. 25, 2021 /PRNewswire/
-- INOVIO Pharmaceuticals, Inc. (Nasdaq: INO), a biotechnology
company focused on bringing to market precisely designed DNA
medicines to treat and protect people from infectious diseases,
including COVID-19, cancer and HPV-associated diseases, today
announced the closing of its previously announced underwritten
public offering of 20,355,000 shares of its common stock, which
includes 2,655,000 shares sold pursuant to the underwriters'
exercise in full of their option to purchase additional shares, at
a price to the public of $8.50 per
share. The gross proceeds to INOVIO from the offering, before
deducting underwriting discounts and commissions and offering
expenses, were approximately $173
million.
BofA Securities, Jefferies and Cantor acted as joint
book-running managers for the offering. Oppenheimer & Co. acted
as lead manager for the offering. The Benchmark Company, Maxim
Group LLC and National Securities Corporation acted as co-managers
for the offering.
The shares were offered by INOVIO pursuant to a shelf
registration statement filed by INOVIO with the Securities and
Exchange Commission (SEC) that became automatically effective on
January 20, 2021. This offering was
made only by means of a written prospectus and prospectus
supplement that form a part of the registration statement. A final
prospectus supplement relating to and describing the terms of the
offering has been filed with the SEC and may be obtained for free
by visiting the SEC's website at www.sec.gov. Copies of the final
prospectus supplement and the accompanying prospectus relating to
the offering may also be obtained by contacting: BofA Securities,
Attention: Prospectus Department, NC1-004-03-43, 200 North College
Street, 3rd Floor, Charlotte, NC
28255, or by email at dg.prospectus_requests@bofa.com; Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY
10022, or by telephone at (877) 821-7388, or by e-mail at
Prospectus_Department@Jefferies.com; or Cantor Fitzgerald &
Co., Attn: Capital Markets, 499 Park Avenue, 6th floor,
New York, NY 10022; Email:
prospectus@cantor.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About INOVIO
INOVIO is a biotechnology company focused on rapidly bringing to
market precisely designed DNA medicines to treat and protect people
from infectious diseases, cancer, and diseases associated with HPV.
INOVIO is the first and only company to have clinically
demonstrated that a DNA medicine can be delivered directly into
cells in the body via a proprietary smart device to produce a
robust and tolerable immune response. Specifically, INOVIO's lead
candidate VGX-3100, currently in Phase 3 trials for precancerous
cervical dysplasia, destroyed and cleared high-risk HPV 16 and 18
in a Phase 2b clinical trial. Also in
development are programs targeting HPV-related cancers and a rare
HPV-related disease, recurrent respiratory papillomatosis;
non-HPV-related cancers glioblastoma multiforme and prostate
cancer; as well as externally funded infectious disease DNA vaccine
development programs in coronaviruses associated with COVID-19 and
MERS diseases, Zika, Lassa fever, Ebola and HIV.
CONTACTS:
Media: Jeff
Richardson, 267-440-4211,
jrichardson@inovio.com
Investors: Ben Matone, 484-362-0076,
ben.matone@inovio.com
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SOURCE INOVIO Pharmaceuticals, Inc.