Enochian BioSciences Announces $29 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
June 14 2021 - 2:53PM
(NASDAQ: ENOB) -- Enochian BioSciences, Inc., a company focused on
gene-modified cellular and immune therapies in infectious diseases
and cancer, today announced that it has entered into a
definitive securities purchase agreement with several institutional
investors for the issuance and sale of an aggregate of 3,866,667
shares of its common stock at a purchase price of $7.50 per share
of common stock a registered direct offering priced at-the-market
under Nasdaq rules. The registered direct offering is expected to
close on or about June 16, 2021, subject to the satisfaction of
customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the offering.
The gross proceeds from the offering are expected to be
approximately $29 million before deducting placement agent fees and
other offering expenses. Enochian currently intends to use the net
proceeds from the offering for working capital and general
corporate purposes.
The securities described above are being offered pursuant to
Enochian’s shelf registration statement on Form S-3 (File No.
333-239837) filed with the Securities and Exchange Commission (the
“SEC”) on July 13, 2020 and declared effective on July 20, 2020.
Such securities may be offered only by means of a prospectus,
including a prospectus supplement, forming a part of the effective
registration statement. A final prospectus supplement and the
accompanying prospectus relating to the securities being offered in
the registered direct offering will be filed with the SEC.
Electronic copies of the final prospectus supplement and the
accompanying prospectus may be obtained, when available, on the
SEC’s website at http://www.sec.gov or by contacting H.C.
Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY
10022, by e-mail: placements@hcwco.com or by telephone: (212)
856-5711.
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 any
of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
About Enochian BioSciences, Inc.
Enochian BioSciences, Inc. is a biopharmaceutical company
dedicated to identifying, developing, manufacturing, and
commercializing gene-modified cell therapy. The company’s
gene-modified cell therapy platform can be applied to multiple
indications, including HIV/AIDS and Oncology.
Forward-Looking Statements
Statements in this press release that are not strictly
historical in nature are forward-looking statements. These
statements are only predictions based on current information and
expectations and involve a number of risks and uncertainties,
including but not limited to all statements related to the
completion of the registered direct offering, the satisfaction of
customary closing conditions related to the offering and the
intended use of net proceeds from the offering as well as the
success or efficacy of our pipeline. All statements other than
historical facts are forward-looking statements, which can be
identified by the use of forward-looking terminology such as
“believes,” plans,” “expects,” “aims,” “intends,” “potential,” or
similar expressions. Actual events or results may differ materially
from those projected in any of such statements due to various
uncertainties, including market and other conditions and as set
forth in Enochian BioSciences most recent Annual Report on Form
10-K filed with the SEC. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof. All forward-looking statements are qualified in
their entirety by this cautionary statement, and Enochian
BioSciences undertakes no obligation to revise or update this press
release to reflect events or circumstances after the date hereof,
except as requires by law.
Contact: ir@enochianbio.com
Enochian Biosciences (NASDAQ:ENOB)
Historical Stock Chart
From Aug 2024 to Sep 2024
Enochian Biosciences (NASDAQ:ENOB)
Historical Stock Chart
From Sep 2023 to Sep 2024