Adicet Bio, Inc. Announces Proposed Public Offering of Common Stock and Concurrent Private Placement
February 09 2021 - 4:04PM
Adicet Bio, Inc. (“Adicet”) (Nasdaq: ACET), a biotechnology company
discovering and developing allogeneic gamma delta T cell therapies
for cancer and other diseases, today announced that it has
commenced an underwritten public offering of its common stock.
Adicet also intends to grant the underwriters a 30-day option to
purchase up to an additional 15 percent of the number of shares
sold at the public offering price, less underwriting discounts and
commissions. All of the shares in the proposed offering are to be
sold by Adicet.
In connection with the proposed offering, Adicet
intends to enter into a stock purchase agreement with certain
existing investors for $15.0 million of shares of its common stock
at a price per share equal to the public offering price, with an
initial closing for certain investors to be held simultaneous with
the closing of the proposed offering and a subsequent closing for
certain additional investors.
The proposed offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering. The consummation of the private placement
will be contingent upon the closing of the proposed offering.
Guggenheim Securities is acting as book-running
manager for the proposed offering.
The shares are being offered by Adicet pursuant to
a shelf registration statement that was previously filed with, and
subsequently declared effective on February 12, 2019 by, the U.S.
Securities and Exchange Commission (SEC). A preliminary prospectus
supplement relating to and describing the terms of the offering
will be filed with the SEC and will be available on the SEC’s
website at www.sec.gov. When available, copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
the offered securities may be obtained, when available, from
Guggenheim Securities, LLC, Attention: Equity Syndicate Department,
330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at
(212) 518-9544, or by email at
GSEquityProspectusDelivery@guggenheimpartners.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
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.
About Adicet
Adicet Bio, Inc. is a biotechnology company
discovering and developing allogeneic gamma delta T cell therapies
for cancer and other diseases. Adicet is advancing a pipeline of
“off-the-shelf” gamma delta T cells, engineered with chimeric
antigen receptors and T cell receptor-like antibodies to enhance
selective tumor targeting, facilitate innate and adaptive
anti-tumor immune response, and improve persistence for durable
activity in patients.
Forward-Looking Statements
This press release contains "forward-looking
statements" of Adicet within the meaning of the Private Securities
Litigation Reform Act of 1995, including without limitation,
statements related to the anticipated public offering of shares.
These forward-looking statements include, but are not limited to,
those relating to Adicet expectations regarding the completion,
timing and size of the public offering, its expectations with
respect to granting the underwriters a 30-day option to purchase
additional shares, and the completion and timing of the private
placement. Any forward-looking statements in this press release are
based on management’s current expectations and beliefs of future
events, and are subject to a number of risks and uncertainties that
could cause actual results to differ materially and adversely from
those set forth in or implied by such forward-looking statements.
These risks and uncertainties related to completion of the proposed
public offering on the anticipated terms, or at all, include, but
are not limited to, market conditions and the satisfaction of
customary closing conditions related to the proposed public
offering. For a discussion of these and other risks and
uncertainties, and other important factors, any of which could
cause Adicet’s actual results to differ from those contained in the
forward-looking statements, see the section entitled “Risk Factors”
in Adicet’s most recent annual report on Form 10-K filed on March
12, 2020 and our period reports on Form 10-Q and Form 8-K filed
with the SEC, as well as discussions of potential risks,
uncertainties, and other important factors in Adicet’s other
filings with the SEC, including those contained or
incorporated by reference in the preliminary prospectus supplement
related to the proposed public offering to be filed with the SEC.
All information in this press release is as of the date of the
release, and Adicet undertakes no duty to update this
information unless required by law.
Adicet Bio, Inc.Investor
and Media ContactAnne Bowdidgeabowdidge@adicetbio.com
Source: Adicet Bio, Inc.
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