On August 1, 2022 MAIA Biotechnology, Inc., (NYSE American: MAIA) ("MAIA", the "Company"), a clinical-stage biopharmaceutical company developing targeted immunotherapies for cancer, reported the closing of its initial public offering of 2,000,000 shares of the Company’s common stock at a public offering price of $5.00 per share (Press release, MAIA Biotechnology, AUG 1, 2022, View Source [SID1234617222]). The gross proceeds from the initial public offering were $10,000,000 prior to deducting underwriting discounts, commissions, and other offering expenses. The Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 shares of common stock at the initial public offering price less discounts and commissions, to cover over-allotments.
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The shares of common stock began trading on the NYSE American on July 28, 2022 under the ticker symbol "MAIA."
ThinkEquity acted as sole book-running manager for the offering.
The Company intends to use the net proceeds from the initial public offering to fund the first part of the Phase 2 trials of the Company’s product candidate THIO, pre-clinical development of second-generation of telomere targeting compounds and other research and development activities, as well as for working capital and other general corporate purposes.
The Registration Statement on Form S-1 (File No. 333-264225) relating to the shares of common stock being sold in this offering has been filed with the U.S. Securities and Exchange Commission (the "SEC") and became effective on July 27, 2022. A final prospectus related to the proposed offering has been filed and is available on the SEC’s website at View Source The offering is being made only by means of a prospectus. Electronic copies of the final prospectus may be obtained, when available, from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004, by telephone at (877) 436-3673 and by email at [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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.