On May 13, 2024 Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T) products for cancer and autoimmune disease, reported the pricing of an underwritten offering of 37,931,035 shares of its common stock at a price of $2.90 per share (Press release, Allogene, MAY 13, 2024, View Source [SID1234643129]). The gross proceeds from this offering are expected to be approximately $110 million, before deducting the underwriting discount and commissions and estimated offering expenses payable by Allogene.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
The offering is anchored by mutual funds and large institutional investors and includes leading healthcare specialists as well as certain members of the Allogene Board of Directors and Executive Management Team. The offering is expected to close on or about May 16, 2024, subject to customary closing conditions.
Goldman Sachs & Co. LLC is acting as sole book-running manager for the offering.
The securities described above are being offered by Allogene pursuant to a shelf registration statement (including a prospectus) filed on March 14, 2024 with the Securities and Exchange Commission (SEC), which was declared effective on April 25, 2024. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC’s website at View Source Copies of the final prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or 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 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.