On April 27, 2023 MAIA Biotechnology, Inc. (NYSE American: MAIA), a clinical-stage biopharmaceutical company developing targeted immunotherapies for cancer, reported the closing of its previously announced public offering of 2,555,500 shares of its common stock at a public offering price of $2.25 per share, for gross proceeds of approximately $5.75 million, before deducting underwriting discounts and offering expenses (Press release, MAIA Biotechnology, APR 27, 2023, View Source [SID1234630641]). The shares sold in the offering include the exercise in full by the underwriter of its option to purchase an additional 333,300 shares of common stock, in addition to the 2,222,200 shares of common stock which the underwriters initially agreed to purchase.
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The Company intends to use the proceeds from the offering to fund the ongoing clinical trials of 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.
ThinkEquity acted as sole book-running manager for the offering.
A registration statement on Form S-1 (File No. 333-269606) relating to the shares of common stock being sold in this offering was filed with the U.S. Securities and Exchange Commission (the "SEC") and became effective on April 24, 2023. A final prospectus relating to the offering was filed with the SEC 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 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 registration or qualification under the securities laws of any such state or other jurisdiction.