Aegis Capital is bookrunning manager; H.C. Wainwright is lead manager
By Toni Weeks
San Luis Obispo, Calif., March 16 – Heat Biologics, Inc. said that underwriters for its public offering of stock opted to exercise in full their $1.6 million greenshoe, lifting total proceeds to $12.26 million. The offering was announced last Tuesday and priced for $10.66 million with the greenshoe later that same day.
The company sold a total of 1,886,000 common shares at $6.50 per share. The price per share reflects an 8.19% discount to the March 10 closing share price of $7.08. Of the shares, 246,000 represent the fully exercised greenshoe.
Aegis Capital Corp. is the bookrunning manager.
Proceeds will be used for general corporate purposes, which may include, among other things, working capital, funding for research and development, including clinical trials, vendor payables, regulatory submissions, additional personnel, capital expenditures, licensing or acquiring intellectual property, or in-licensing, acquiring or investing in complementary businesses or products.
The biopharmaceutical company is based in Durham, N.C.
| Issuer: | Heat Biologics, Inc.
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| Issue: | Common stock
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| Amount: | $12,259,000 (includes $1,599,000 greenshoe)
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| Shares: | 1,886,000
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| Price: | $6.50
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| Warrants: | No
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| Bookrunner: | Aegis Capital Corp.
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| Lead manager: | H.C. Wainwright & Co., LLC
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| Announcement date: | March 10
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| Pricing date: | March 11
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| Settlement date: | March 16
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| Stock symbol: | Nasdaq: HTBX
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| Stock price: | $7.08 at close March 10
|
| Market capitalization: | $44.46 million
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