BriaCell Therapeutics Announces $8.5 Million Offering
September 11 2024 - 12:09PM
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 the pricing of a best-efforts offering of
12,325,000 common shares (or pre-funded warrants (“Pre-Funded
Warrants”) in lieu thereof), priced at-the-market under Nasdaq
rules. Each common share (or Pre-Funded Warrant) is being sold at
an offering price of $0.69 per share (inclusive of the Pre-Funded
Warrant exercise price). All of the common shares and Pre-Funded
Warrants in the offering are being offered by the Company. Total
gross proceeds from the offering, before deducting the placement
agent’s fees and other offering expenses, are expected to be
approximately $8.5 million. The offering is expected to close on
September 12, 2024, subject to satisfaction of customary closing
conditions. The Company is relying upon the exemption set forth in
Section 602.1 of the TSX Company Manual, which provides that the
TSX will not apply its standards to certain transactions involving
eligible interlisted issuers on a recognized exchange, such as
Nasdaq.
The Company intends to use the net proceeds from
the offering for working capital requirements, general corporate
purposes, and the advancement of business objectives.
ThinkEquity is acting as sole placement agent
for the offering.
The securities described above are being offered
and sold by the Company pursuant to a shelf registration statement
on Form S-3 (File No. 333-276650), including a base prospectus,
filed with the U.S. Securities and Exchange Commission (the “SEC”)
on January 22, 2024 and declared effective on January 31, 2024. The
offering is being made only by means of a written prospectus. A
final prospectus supplement and accompanying prospectus relating to
the offering will be filed with the SEC and can be accessed for
free on the SEC’s website at www.sec.gov. Copies of the final
prospectus supplement and the accompanying prospectus relating to
the offering may be obtained, when available, from the offices of
ThinkEquity, 17 State Street, 41st Floor, New York, New York
10004.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About BriaCell Therapeutics Corp.BriaCell is a
clinical-stage biotechnology company that develops novel
immunotherapies to transform cancer care. More information is
available at https://briacell.com/.
Forward-Looking StatementsThis
press release contains “forward-looking statements” that are
subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as “anticipate,” “believe,” “contemplate,” “could,”
“estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “target,” “aim,” “should,”
“will,” “would,” or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements, including those about
BriaCell replicating positive data in its ongoing Phase 3 study;
BriaCell’s Bria-IMT™ regimen bringing relief to cancer patients
whose medical needs remain unmet; and the Bria-IMT™ regimen
becoming a therapeutic option for metastatic breast cancer
patients, are based on BriaCell’s current expectations and are
subject to inherent uncertainties, risks, and assumptions that are
difficult to predict. Further, certain forward-looking statements
are based on assumptions as to future events that may not prove to
be accurate. These and other risks and uncertainties are described
more fully under the heading “Risks and Uncertainties” in the
Company’s most recent Management’s Discussion and Analysis, under
the heading “Risk Factors” in the Company’s most recent Annual
Information Form, and under “Risks and Uncertainties” in the
Company’s other filings with the Canadian securities regulatory
authorities and the U.S. Securities and Exchange Commission, all of
which are available under the Company’s profiles on SEDAR+ at
www.sedarplus.ca and on EDGAR at www.sec.gov. There can be no
assurance that BriaCell will be able to complete the offering on
the anticipated terms, or at all. Forward-looking statements
contained in this announcement are made as of this date, and
BriaCell Therapeutics Corp. undertakes no duty to update such
information except as required under applicable law.
Neither the Toronto Stock Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the Toronto Stock Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Company Contact:William V.
Williams, MDPresident & CEO1-888-485-6340info@briacell.com
Media Relations:Jules
AbrahamCORE IRjulesa@coreir.com
Investor Relations Contact:CORE
IRinvestors@briacell.com
BriaCell Therapeutics (NASDAQ:BCTXW)
Historical Stock Chart
From Aug 2024 to Sep 2024
BriaCell Therapeutics (NASDAQ:BCTXW)
Historical Stock Chart
From Sep 2023 to Sep 2024