PharmaCyte Biotech Announces Closing of $15-Million Public Offering
12 Aug 2021
LAGUNA HILLS, Calif., August 12, 2021--(BUSINESS WIRE)--PharmaCyte Biotech, Inc. (NASDAQ: PMCB) (PharmaCyte or Company), a biotechnology company focused on developing cellular therapies for cancer and diabetes using its signature live-cell encapsulation technology, Cell-in-a-Box®, today announced the closing of its previously announced underwritten public offering of approximately $15 million.
The public offering includes 3,529,412 shares of the Company’s common stock (or pre-funded warrants to purchase common stock in lieu of common stock) and warrants to purchase up to an aggregate of 3,529,412 shares of common stock. In addition, PharmaCyte granted the underwriter a 30-day option to purchase up to an additional 529,411 shares of its common stock and/or accompanying warrants to purchase an aggregate of up to 529,411 shares of its common stock, which the underwriter has partially exercised for warrants to purchase an aggregate of up to 499,116 shares of common stock. At closing, PharmaCyte received net proceeds from the offering of approximately $13.6 million, after deducting underwriting discounts and commissions and estimated offering expenses. All of the securities in the offering were sold by PharmaCyte.