On September 28, 2021 Kintara Therapeutics, Inc. (Nasdaq: KTRA) ("Kintara" or the "Company"), a biopharmaceutical company developing novel cancer therapies for patients who are failing, or are resistant to, current treatment regimens reported the closing of its previously announced registered direct offering, priced at-the-market under Nasdaq rules, with several healthcare-focused institutional investors of 12,000,000 shares of its common stock (or common stock equivalents) and warrants to purchase up to an aggregate of 12,000,000 shares of common stock, at a combined offering price of $1.25 per share and associated warrant (Press release, Kintara Therapeutics, SEP 28, 2021, View Source [SID1234590409]). The warrants have an exercise price of $1.25 per share and are exercisable for three and one half years from the date of issuance. The gross proceeds to the Company totaled approximately $15 million, before deducting placement agent fees and offering expenses.
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H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The Company currently intends to use the net proceeds from the offering for funding its clinical studies, working capital and other general corporate purposes, including, but not limited to, funding acquisitions or investments in businesses, products or technologies that are complementary to the Company’s businesses, products and technologies.
The securities described above were offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-254662) filed with the Securities and Exchange Commission (SEC) on March 24, 2021 and declared effective on April 1, 2021. The offering of the securities described herein was made only 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 securities being offered was filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained on the SEC’s website at View Source or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (646) 975-6996, or email at [email protected].
This press release shall not constitute an offer to sell or a 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.