BriaCell Therapeutics Announces Pricing Of $5M Registered Direct Offering Of 2,402,935 Common Shares And Warrants Of The Company At A Combined Purchase Price Of $2/Share

Author: Benzinga Newsdesk | May 15, 2024 08:16am

BriaCell Therapeutics Corp. (NASDAQ:BCTX, BCTXW))))) (TSX:BCT) ("BriaCell" or the "Company"), a clinical-stage biotechnology company that develops novel immunotherapies to transform cancer care, today announced it has entered into securities purchase agreements with healthcare-focused institutional investors and a certain existing investor and a director of the Company for the purchase and sale of 2,402,935 common shares of the Company (or pre-funded warrants in lieu thereof) and warrants to purchase up to an aggregate of 2,402,935 common shares of the Company at a combined purchase price per share (and accompanying warrant) of $2.00 for the institutional investors and $2.215 for the existing investor and director of the Company for aggregate gross proceeds of approximately $5.0 million before deducting placement agent fees and other offering expenses (the "Offering"). The warrants will have an exercise price of $2.11 per share, will become exercisable six months from the date of issuance and will expire five years from the initial exercise date. The closing of the Offering is expected to take place on or about May 17, 2024, subject to the satisfaction of customary closing conditions.

Posted In: BCTX TSX:BCT