PolarityTE Announces Pricing of Public Offering of Common Stock and Warrants
2020年2月12日 - 11:00PM
ビジネスワイヤ(英語)
PolarityTE, Inc. (Nasdaq: PTE), a biotechnology company
developing and commercializing regenerative tissue products and
biomaterials, today announced the pricing of an underwritten public
offering of approximately 10,638,298 shares of its common stock and
warrants to purchase up to 10,638,298 shares of its common stock.
Each share of common stock is being sold together with a warrant to
purchase one share of common stock for a combined purchase price of
$2.35 per share and warrant, for a gross offering size of $25.0
million, not including any future proceeds from the exercise of the
warrants and before deducting the underwriting discounts and
commissions and offering expenses. Each warrant will have an
exercise price of $2.80 per share, will be exercisable immediately
and will expire on the seven-year anniversary of the date of
issuance. The shares of common stock and warrants can only be
purchased together but will be issued separately and will be
immediately separable upon issuance. The offering is expected to
close on or about February 14, 2020, subject to satisfaction of
customary closing conditions.
Cantor Fitzgerald & Co. is acting as the sole book-running
manager for the offering. Oppenheimer & Co. Inc. is acting as
lead manager for the offering.
PolarityTE intends to use the net proceeds from the offering for
commercialization of SkinTE, research, development and
manufacturing of its products and product candidates, efforts
toward commercialization and required registration or approval of
its products and product candidates with applicable regulatory
authorities, and for other general corporate purposes, and may also
use net proceeds to pursue strategic relationships that enhance its
technology offerings through joint development or licensing
arrangements or acquisitions, though the company does not currently
have agreements or commitments with respect to any such
arrangements or acquisitions.
The securities described above are being offered by PolarityTE
pursuant to a shelf registration statement on Form S-3 (File No.
333-229584), which has been filed with and declared effective by
the Securities and Exchange Commission (SEC). The offering will be
made only by means of a written prospectus and prospectus
supplement that form part of the registration statement. A
preliminary prospectus supplement and accompanying prospectus
relating to this offering were filed with the SEC on February 11,
2020. Copies of the preliminary prospectus supplement, the final
prospectus supplement (when available) and the prospectus relating
to this offering may be obtained from Cantor Fitzgerald & Co.,
Attn: Capital Markets, 499 Park Avenue, 6th Floor, New York, NY
10022 or by e-mail at prospectus@cantor.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About PolarityTE®
PolarityTE is focused on transforming the lives of patients by
discovering, designing and developing a range of regenerative
tissue products and biomaterials for the fields of medicine,
biomedical engineering and material sciences. Rather than
manufacturing with synthetic and foreign materials within
artificially engineered environments, PolarityTE manufactures
products from the patient's own tissue and uses the patient's own
body to support the regenerative process. From a small piece of
healthy autologous tissue, the company creates an easily
deployable, dynamic and self-propagating product designed to
regenerate the target tissues. PolarityTE's innovative method is
intended to promote and accelerate growth of the patient's tissues
to undergo a form of effective regenerative healing.
Forward Looking Statements
Certain statements contained in this release are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. They are generally
identified by words such as "believes," "may," "expects,"
"anticipates," "intend," "plan," "will," "would," "should" and
similar expressions. Readers should not place undue reliance on
such forward-looking statements, which are based upon the Company's
beliefs and assumptions as of the date of this release. Examples of
forward-looking statements contained in this release include
statements about the Company’s use of proceeds from the proposed
offering. Actual results could differ materially due to risk
factors and other items described in more detail in the "Risk
Factors" section of the Company's Annual Reports and other filings
with the SEC (copies of which may be obtained at www.sec.gov).
Subsequent events and developments may cause these forward-looking
statements to change. The Company specifically disclaims any
obligation or intention to update or revise these forward-looking
statements as a result of changed events or circumstances that
occur after the date of this release, except as required by
applicable law.
POLARITYTE, the POLARITYTE logo, WHERE SELF REGENERATES SELF,
and WELCOME TO THE SHIFT are trademarks or registered trademarks of
PolarityTE, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20200212005501/en/
Investors: Rich Haerle VP, Investor Relations PolarityTE,
Inc. ir@PolarityTE.com (385) 315-0697
Media: Angela Ziegler VP, Marketing and Public Relations
PolarityTE, Inc. AngelaZiegler@polarityte.com (385) 239-0363
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