Deal funds clinical development of HS-110, HS-410, corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 4 - Heat Biologics, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal's $3.75 million greenshoe in part for total proceeds of $27 million. The deal was announced June 28 and priced for $25 million with the greenshoe on July 24.
The company sold 2.7 million common shares at $10.00 per share. Of the shares, 200,000 were part of the partially exercised greenshoe.
Aegis Capital Corp. was the bookrunning manager.
Proceeds will be used for clinical development of HS-110 and HS-410 and other general corporate purposes.
The biopharmaceutical company is based in Chapel Hill, N.C.
| Issuer: | Heat Biologics, Inc.
|
| Issue: | Common stock
|
| Amount: | $27 million (including $2 million greenshoe)
|
| Shares: | 2.7 million
|
| Price: | $10.00
|
| Warrants: | No
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| Bookrunner: | Aegis Capital Corp.
|
| Co-manager: | Cantor Fitzgerald & Co.
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| Announcement date: | June 28
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| Pricing date: | July 24
|
| Settlement date: | Sept. 4
|
| Stock symbol: | Nasdaq: HTBX
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| Stock price: | $9.96 at close Sept. 3
|
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