ROSEVILLE, Minn., Feb. 23, 2022 /PRNewswire/ -- Calyxt, Inc.
(NASDAQ: CLXT) ("Calyxt" or the "Company"), a plant-based synthetic
biology company, today announced the closing of its previously
announced placement to an institutional investor in an
underwritten offering of 3,880,000 shares of its common stock,
pre-funded warrants to purchase up to 3,880,000 shares of its
common stock, and common warrants to purchase up to 7,760,000
shares of its common stock (the "Offering").
Canaccord Genuity acted as the sole bookrunner for the
Offering.
The net proceeds to the Company from the Offering, after
underwriting discounts and expenses, were approximately
$10.0 million, assuming none of the
accompanying common warrants issued in the Offering are exercised.
The Company intends to use the net proceeds from the Offering for
enhancing the capabilities of its BioFactory production system and
increasing its capacity to produce at larger scales, continuing to
build out its PlantSpring technology platform and artificial
intelligence / machine learning capabilities, furthering customer
relationships, and for working capital and general corporate
purposes.
The above-referenced securities were offered by the Company
pursuant to a "shelf" registration statement on Form S-3 (File No.
333-233231) previously filed with the Securities and Exchange
Commission (the "SEC") and declared effective by the SEC on
September 27, 2019. The Offering was
made by means of a prospectus, including a prospectus supplement,
forming a part of the effective registration statement. A final
prospectus supplement and accompanying prospectus relating to the
Offering were filed with the SEC on February
22, 2022. Electronic copies of the final prospectus
supplement and accompanying prospectus may be obtained on the SEC's
website at http://www.sec.gov or by contacting Canaccord
Genuity LLC, Attention: Syndicate Department, 99 High Street, Suite
1200, Boston, Massachusetts 02110,
or by email at prospectus@cgf.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities in the Offering, 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 Calyxt
Calyxt (Nasdaq: CLXT) is a plant-based synthetic biology
company. The Company leverages its proprietary PlantSpring™
technology platform to engineer plant metabolism to produce
innovative and high value plant-based chemistries for use in
customers' materials and products. As plant-based solutions, the
Company's synthetic biology products can be used in helping
customers meet their sustainability targets and financial goals.
Calyxt's diversified offerings are primarily delivered through its
proprietary BioFactory™ production system. For more information,
visit www.calyxt.com.
PlantSpring, BioFactory, and the Calyxt logo are trademarks of
Calyxt, Inc. Any other trademarks belong to their respective
owners.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
This press release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. In some cases, you can
identify these statements by forward-looking words such as
"anticipates," "believes," "continue," "estimates," "expects,"
"intends," "may," "might," "plans," "predicts," "projects,"
"should," "targets," "will," or the negative of these terms and
other similar terminology. Forward-looking statements in this press
release include statements about the intended use of net proceeds
from the Offering. You are cautioned not to place undue reliance on
any forward-looking statements made by Calyxt's management, which
are based only on information currently available to it when, and
speak only as of the date, such statement is made. Actual results
could be materially different than those expressed, implied, or
anticipated by forward-looking statements due to a variety of
factors, including, but not limited to those discussed under the
caption entitled "Risk Factors" in our Annual Report on Form 10-K
and subsequent filings on Form 10-Q or 8-K with the U.S. Securities
and Exchange Commission. Calyxt does not assume any obligation to
publicly provide revisions or updates to any forward-looking
statements, whether as a result of new information, future
developments or otherwise, should circumstances change, except as
otherwise required by law.
Contacts:
Calyxt Media Contact:
David Rosen / John Garabo
Argot Partners
(212) 600-1902
media@calyxt.com
Calyxt Investor Relations Contact:
Kimberly Minarovich / Cameron
Willis
Argot Partners
(212) 600-1902
investors@calyxt.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/calyxt-announces-closing-of-sec-registered-offering-of-common-stock-pre-funded-warrants-to-purchase-common-stock-and-warrants-to-purchase-common-stock-301488918.html
SOURCE Calyxt, Inc.