On January 8, 2024 Atara Biotherapeutics, Inc. (Nasdaq: ATRA), a leader in T-cell immunotherapy, leveraging its novel allogeneic Epstein-Barr virus (EBV) T-cell platform to develop transformative therapies for patients with cancer and autoimmune diseases, reported that it has entered into a definitive agreement for the issuance and sale of pre-funded warrants to purchase 27,272,727 shares of its common stock at a purchase price of $0.55 per pre-funded warrant share in a registered direct offering to entities affiliated with an existing institutional investor (Press release, Atara Biotherapeutics, JAN 8, 2024, View Source [SID1234639056]). The pre-funded warrants will have an exercise price of $0.0001 per share, and will be immediately exercisable upon issuance. The offering is expected to close on or about January 10, 2024, subject to the satisfaction of customary closing conditions.
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The gross proceeds to Atara from the offering are expected to be $15 million, before deducting estimated offering expenses payable by Atara. Atara currently intends to use the net proceeds from the offering for working capital and general corporate purposes.
The securities described above are being offered by Atara pursuant to a shelf registration statement on Form S-3 (No. 333-275256), including a base prospectus, that was previously filed by Atara with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective on November 13, 2023. A prospectus supplement containing additional information relating to the offering will be filed with the SEC and will be available on the SEC’s website located at View Source
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 the registration or qualification under the securities laws of any such state or jurisdiction.