RSS BriaCell Prices 7.4 Mln Public Offering, To Raise $5.5 Mln

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 RSS BriaCell Prices 7.4 Mln Public Offering, To Raise $5.5 Mln

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BriaCell Therapeutics Corp. (BCTX), a biotechnology firm operating at the clinical stage, announced on Thursday the pricing for its underwritten public offering. The offering consists of 7.4 million common shares alongside warrants for purchasing an additional 7.4 million shares. Each share, combined with a warrant, is priced at $0.75.

The warrants are set with an exercise price of $0.9375 per share, and they are immediately exercisable with a validity period extending five years from issuance.

This offering is projected to conclude on December 13.

The expected total gross proceeds, before accounting for any discounts or expenses related to underwriters, stand at approximately $5.55 million.

BriaCell intends to allocate the net proceeds towards meeting working capital needs, general corporate expenses, and furthering its business objectives.

In this offering, ThinkEquity is fulfilling the role of the sole book-running manager.

On Wednesday, BCTX saw its stock price close at $1.10, marking an increase of 0.02 cents or 1.85% on the Nasdaq. However, during after-hours trading, the stock price decreased by 29.07%, settling at $0.78.

The material has been provided by InstaForex Company - www.instaforex.com
 
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