PDS Biotechnology Corporation Announces Pricing of Public Offering of Common Stock

Strategic Insights -

PDS Biotechnology Corporation, a clinical-stage immunotherapy company, has announced the pricing of a public offering of 6 million shares of common stock at a public offering price of $2.75 per share. This offering is expected to generate gross proceeds of $16.5 million for the company, which plans to use the funds for working capital and general corporate purposes. The offering is being managed by Oppenheimer & Co. Inc. and is expected to close on August 13, 2020.

Key Takeaways:

  • PDS Biotechnology Corporation has priced a public offering of 6 million shares of common stock at $2.75 per share, generating gross proceeds of $16.5 million for the company.
  • The company plans to use the funds from the offering for working capital and general corporate purposes.
  • Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering.
  • The offering is expected to close on August 13, 2020, subject to customary closing conditions.
  • PDS Biotech is a clinical-stage immunotherapy company developing novel cancer therapies and infectious disease vaccines using its proprietary Versamune T-cell activating technology.
  • PDS Biotech has engineered multiple therapies, based on combinations of Versamune and disease-specific antigens, designed to train the immune system to recognize and attack disease cells.

Statistics:

  • 6 million shares of common stock were priced at $2.75 per share.
  • Gross proceeds from the offering are expected to be $16.5 million.
  • The offering is being managed by Oppenheimer & Co. Inc.
  • The company plans to use the funds from the offering for working capital and general corporate purposes.

Sources:

  • PDS Biotechnology Corporation press release (August 11, 2020)
  • U.S. Securities and Exchange Commission (SEC) website (http://www.sec.gov)