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Stock offerings

PDS Biotechnology Announces Public Offering of Common Stock

Strategic Insights

— 1 min read

PDS Biotechnology Corporation, a clinical-stage immunotherapy company, has announced plans to offer and sell shares of its common stock in an underwritten public offering. The company intends to use the proceeds from this offering to fund working capital and general corporate purposes.

The proposed public offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. PDS Biotech has filed an effective registration statement on Form S-3 with the U.S. Securities and Exchange Commission, which includes a prospectus supplement describing the terms of the offering.

Key Takeaways:

  • PDS Biotechnology Corporation plans to offer and sell up to 15% additional shares to cover over-allotments in an underwritten public offering.
  • The company intends to use the proceeds from the offering to fund working capital and general corporate purposes.
  • Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering.
  • PDS Biotech has filed an effective registration statement on Form S-3 with the U.S. Securities and Exchange Commission, which includes a prospectus supplement describing the terms of the offering.
  • The proposed public offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
  • PDS Biotech's proprietary Versamune technology platform effectively delivers disease-specific antigens for in vivo uptake and processing, while also activating the critical type 1 interferon immunological pathway.

Statistics:

  • Up to 15% additional shares may be sold to cover over-allotments in the proposed public offering.
  • PDS Biotech intends to use the proceeds from the offering to fund working capital and general corporate purposes, but the actual amount of proceeds and terms of the offering are indefinite.
  • The company's proprietary Versamune technology platform has been developed to effectively deliver disease-specific antigens for in vivo uptake and processing.

Sources:

  • PDS Biotechnology Corporation press release, available at http://www.sec.gov (file number 333-240011)
  • Form S-3 registration statement filed with the U.S. Securities and Exchange Commission on July 22, 2020
  • PDS Biotechnology Corporation's website, http://www.pdsbiotech.com

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