On December 17, 2021 Abeona Therapeutics Inc. (Nasdaq: ABEO), a fully-integrated leader in gene and cell therapy, reported the pricing of its underwritten public offering of 44,700,000 shares of its common stock and warrants to purchase 44,700,000 shares of its common stock at a combined offering price to the public of $0.39 per one share of common stock and one warrant to purchase one share of common stock (Press release, Abeona Therapeutics, DEC 17, 2021, View Source [SID1234597364]). The warrants have an exercise price of $0.39 per share of common stock, are exercisable immediately, and will expire five years from the date of issuance. The aggregate gross proceeds from the offering are expected to be approximately $17.5 million, before deducting the underwriting discounts and commissions and other offering expenses payable by Abeona. The offering is expected to close on December 21, 2021, subject to the satisfaction of customary closing conditions.
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Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering, and A.G.P./Alliance Global Partners is acting as lead manager for the offering.
Abeona intends to use the net proceeds of the offering to fund continued clinical development of pipeline products, as well as for working capital and corporate purposes.
The securities described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-256850) that was filed with the Securities and Exchange Commission (the "SEC") on June 7, 2021 and amended on August 27, 2021 and October 19, 2021, and was declared effective by the SEC on October 22, 2021. The offering is being made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 4th Floor, New York, New York 10022, or by e-mail at [email protected].
The securities described above have not been qualified under any state blue sky laws. This press release does not constitute an offer to sell or the solicitation of offers to buy any securities of Abeona being offered, and shall not constitute an offer, solicitation or sale of any security 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.