Aptevo Therapeutics Announces Closing of Existing Warrants Exercise and PIPE for $4.5 Million Gross Proceeds

Rhea-AI Summary

Aptevo Therapeutics (NASDAQ:APVO) closed a previously announced warrant inducement transaction and a concurrent private placement (PIPE), generating aggregate gross proceeds of approximately $4.5 million before fees. Holders exercised Existing Warrants for cash to purchase 254,922 shares of common stock at $4.03 per share, and received new Inducement Warrants to purchase up to 1,274,610 additional shares at the same exercise price. The Inducement Warrants become exercisable only after required stockholder approval and expire five years after such approval.

Separately, under a securities purchase agreement, Aptevo sold in a PIPE up to 861,708 unregistered shares at $4.03 per share, or alternatively Pre-Funded Warrants, together with Common Warrants to purchase up to 4,308,540 shares at $4.03. PIPE Warrants also require stockholder approval and carry five-year terms post-approval. According to the company, net proceeds will be used for working capital. The securities were issued in private placements under exemptions to registration, and Aptevo plans to file a registration statement covering resale of the relevant shares.

Positive

• Gross proceeds of approximately $4.5 million from warrant exercise and PIPE
• Additional capital access potential via up to 5,583,150 new warrants at $4.03
• PIPE structure allows flexibility using up to 861,708 shares or pre-funded warrants
• Company plans to file resale registration, potentially improving liquidity for new securities

Negative

• Potential dilution from up to approximately 6.7 million new and underlying shares
• Exercise of Inducement and Common Warrants depends on obtaining required stockholder approval
• All newly issued securities are initially unregistered, limiting immediate public resale until registration is effective

News Explained

Aptevo reported $14,525,000 of cash and equivalents at March 31, 2026, equal to 164.1 days of first-quarter operating cash use; the completed financing generated approximately $4.5 million gross before fees.

Sources and calculations

• Aptevo Therapeutics financing closing release (2026-08-13)
• Aptevo Therapeutics first-quarter fundamentals (2026-Q1)

• Cash and equivalents vs quarterly operating cash outflow, in days of cash use $14,525,000 / ($7,965,000 / 90) = [object Object]

Market Context

Historical records show a -15.38% 24-hour reaction to the prior warrant/PIPE announcement. That comp...

Analysis

Historical records show a -15.38% 24-hour reaction to the prior warrant/PIPE announcement. That comparison frames this closing around funding access versus dilution, with registration timing and required stockholder approval as key terms to watch.

Key Figures

Gross proceeds: $4.5 million Existing warrants exercised: 254,922 shares Inducement warrants: 1,274,610 shares +4 more

7 metrics

Gross proceeds $4.5 million Warrant exercise and PIPE transactions, before fees and expenses

Existing warrants exercised 254,922 shares Cash exercise at $4.03 per share

Inducement warrants 1,274,610 shares New warrants issued at $4.03 exercise price

PIPE shares 861,708 shares Shares sold at $4.03 per share, or pre-funded warrants

PIPE common warrants 4,308,540 shares Common warrants issued at $4.03 exercise price

Exercise price $4.03 per share Existing, inducement and PIPE warrant transactions

Warrant expiration Five-year anniversary Inducement and Common Warrants after required stockholder approval

Historical Context

5 past events · Latest: Aug 12 (Negative)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Aug 12	Warrant PIPE financing	Negative	-15.4%	Warrant exercise and financing announcement preceded a negative 24-hour price reaction.
Jul 27	Patent filing	Positive	-4.1%	Patent filing expanded the company's solid-tumor intellectual-property strategy.
Jun 30	Research grant	Positive	-2.4%	Non-dilutive grant supported APVO451 preclinical and development activities.
May 28	Leadership appointment	Positive	+3.3%	New chief scientific officer was appointed to lead research and preclinical development.
May 27	Strategic collaboration	Positive	-1.0%	Radiopharmaceutical collaboration included a strategic equity investment by Niowave.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

APVO's recent history showed negative 24-hour reactions to several positive announcements, while the prior warrant/PIPE announcement also had a negative reaction.

Key Terms

pipe, pre-funded warrants, beneficial ownership limitation, rule 506, +1 more

5 terms

pipe financial

"Separately, pursuant to a securities purchase agreement, the Company has sold"

A PIPE (private investment in public equity) is a deal in which institutional or accredited investors buy shares or convertible securities directly from a publicly traded company, usually at a discount to the market price. Companies use PIPEs to raise money faster than through a traditional public offering; for existing shareholders they matter because the newly issued shares add to the share count and can dilute ownership.

pre-funded warrants financial

"pre-funded common stock purchase warrants to purchase up to 861,708 shares"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

beneficial ownership limitation regulatory

"to comply with a 4.99% or 9.99% beneficial ownership limitation"

A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.

rule 506 regulatory

"and Rule 506 promulgated thereunder, as applicable"

A Securities and Exchange Commission rule that lets companies sell securities without registering them with the SEC when they meet certain conditions, commonly used for private placements. It allows issuers to raise unlimited capital from accredited investors and, in some versions, a small number of knowledgeable non‑accredited investors; one version also permits public advertising if the seller takes steps to verify investor credentials. For investors, it signals a private offering with lighter disclosure and different protections than a public stock sale, similar to buying into a private club rather than a publicly traded marketplace.

form s-3 regulatory

"Form S-3 (File No. 333-284969)"

Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEATTLE, WA / ACCESS Newswire / August 13, 2026 / Aptevo Therapeutics Inc. (NASDAQ:APVO) ("Aptevo" or the "Company"), a clinical-stage biotechnology company developing novel multispecific immuno-oncology therapeutics, today closed its previously announced warrant inducement transaction with certain holders of its existing common warrants (the "Existing Warrants"), pursuant to which such holders have exercised in full for cash their Existing Warrants to purchase up to an aggregate of 254,922 shares of common stock of the Company ("common stock") at a reduced exercise price of $4.03 per share. In consideration for such cash exercises, the Company has issued new unregistered common stock purchase warrants (the "Inducement Warrants") to purchase up to an aggregate of 1,274,610 shares of common stock at an exercise price of $4.03 per share. The Inducement Warrants will be exercisable on or after the date on which the Company obtains the required stockholder approval and will expire on the five-year anniversary of the date of such stockholder approval. The shares of common stock issuable upon exercise of the Existing Warrants are registered pursuant to effective registration statements on Form S-1 (File No. 333-288061), Form S-1MEF (File No. 333-288134), Form S-3 (File No. 333-284969) and Form S-3 (File No. 333-283983).

Separately, pursuant to a securities purchase agreement, the Company has sold to certain purchasers in a private placement (the "PIPE") up to 861,708 unregistered shares of common stock (the "Shares") at a purchase price of $4.03 per share (or, at a purchaser's election to comply with a 4.99% or 9.99% beneficial ownership limitation, pre-funded common stock purchase warrants (the "Pre-Funded Warrants") to purchase up to 861,708 shares in lieu of such shares), together with common stock purchase warrants (the "Common Warrants") to purchase up to 4,308,540 shares of common stock at an exercise price of $4.03 per share. The Pre-Funded Warrants are exercisable immediately and will expire upon exercise in full, and the Common Warrants will be exercisable on or after the date on which the Company obtains the required stockholder approval and will expire on the five-year anniversary of the date of such stockholder approval (together, the "PIPE Warrants").

The aggregate gross proceeds from the transactions described herein totaled approximately $4.5 million, before deducting placement agent fees and expenses.

Roth Capital Partners acted as the Company's exclusive placement agent in connection with these transactions.

The Company intends to use the net proceeds from the transactions for working capital purposes.

The Inducement Warrants, the Shares, the Pre-Funded Warrants and the Common Warrants described above were offered in private placement transactions pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the "1933 Act"), and Rule 506 promulgated thereunder, as applicable, and, along with the shares of common stock issuable upon exercise of the Inducement Warrants, the Pre-Funded Warrants and the Common Warrants, have not been registered under the 1933 Act and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission ("SEC") or an applicable exemption from such registration requirements. The Company has agreed to file a registration statement with the SEC covering the resale of the Shares and the shares of common stock issuable upon exercise of the Inducement Warrants, the Pre-Funded Warrants and the Common Warrants.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy 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 the registration or exemption under the securities laws of any such state or jurisdiction.

About Aptevo Therapeutics

Aptevo Therapeutics Inc. (NASDAQ:APVO) is a clinical-stage biotechnology company developing novel multispecific immunotherapies for the treatment of cancer. The Company's lead clinical candidate, mipletamig, is currently being evaluated in frontline acute myeloid leukemia in combination with standard-of-care venetoclax + azacitidine. Aptevo's pipeline is generated from its proprietary ADAPTIR™ and ADAPTIR-FLEX^™ platforms and includes bispecific and trispecific candidates designed to create multiple oncology value drivers across hematologic malignancies and solid tumors. In preclinical development, Aptevo is advancing APVO451, a nectin-4-targeted trispecific immunotherapy candidate for solid tumors and is pursuing strategic opportunities in radiopharmaceutical therapeutics to extend its tumor-targeting expertise into additional cancer treatment approaches. For more information, visit www.aptevotherapeutics.com.

Cautionary Note Regarding Forward-Looking Statement

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, statements regarding the use of net proceeds from the transactions, and any other statements containing the words "may," "continue to," "believes," "knows," "expects," "optimism," "potential," "designed," "promising," "plans," "will" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Aptevo's current intentions, beliefs, and expectations regarding future events. Aptevo cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from Aptevo's expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement.

There are several important factors that could cause Aptevo's actual results to differ materially from those indicated by such forward-looking statements, including a deterioration in Aptevo's business or prospects; the inability to obtain, maintain or enforce intellectual property protection; further assessment of preliminary or interim data or different results from later studies; adverse events and unanticipated problems; adverse developments in clinical or preclinical development, including unexpected safety issues; constraints in radioisotope availability, manufacturing or supply; and changes in regulatory, social, macroeconomic and political conditions. Additional risks and factors that may affect results are set forth in Aptevo's filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2025, its subsequent report on Form 10-Q and current reports on Form 8-K. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, Aptevo does not assume any obligation to update any forward-looking statement to reflect new information, events or circumstances.

Contact Information

Miriam Weber Miller
VP, Investor Relations & Corporate Communications
Aptevo Therapeutics
Email: IR@apvo.com or Millerm@apvo.com
Phone: 206-859-6628

SOURCE: Aptevo Therapeutics Inc.

View the original press release on ACCESS Newswire

FAQ

What did Aptevo Therapeutics (NASDAQ:APVO) announce on August 13, 2026?

Aptevo Therapeutics announced closing of a warrant inducement transaction and a PIPE financing, raising approximately $4.5 million in gross proceeds. According to Aptevo, the transactions involved cash exercise of Existing Warrants, new Inducement Warrants, PIPE Shares or Pre-Funded Warrants, and additional Common Warrants.

How much capital did Aptevo Therapeutics (APVO) raise in its August 2026 warrant exercise and PIPE?

Aptevo Therapeutics raised aggregate gross proceeds of approximately $4.5 million from the completed warrant exercise and PIPE financing. According to Aptevo, this amount is before deducting placement agent fees and expenses, and the net proceeds are intended for general working capital purposes.

What are the terms of Aptevo Therapeutics' Inducement Warrants announced in August 2026?

The Inducement Warrants allow purchase of up to 1,274,610 shares of common stock at an exercise price of $4.03 per share. According to Aptevo, they become exercisable after required stockholder approval and expire on the five-year anniversary of the date that stockholder approval is obtained.

What is the structure of Aptevo Therapeutics' August 2026 PIPE financing (APVO)?

The PIPE includes up to 861,708 unregistered shares at $4.03 per share or Pre-Funded Warrants in lieu of shares, plus Common Warrants for up to 4,308,540 shares at $4.03. According to Aptevo, the PIPE Warrants become exercisable after required stockholder approval and last five years.

How will Aptevo Therapeutics use the proceeds from its August 2026 financing?

Aptevo Therapeutics intends to use the net proceeds from the warrant exercise and PIPE financing for working capital purposes. According to Aptevo, gross proceeds total approximately $4.5 million before fees, supporting ongoing operations and development of its multispecific immuno-oncology pipeline.

When can the new Aptevo Therapeutics warrants from August 2026 be exercised and when do they expire?

The Inducement Warrants and Common Warrants become exercisable on or after the date Aptevo obtains required stockholder approval. According to Aptevo, each of these warrant types will expire on the five-year anniversary of that stockholder approval date.

Are the new Aptevo Therapeutics (APVO) securities issued in August 2026 registered with the SEC?

The Inducement Warrants, Shares, Pre-Funded Warrants, Common Warrants and underlying shares were issued as unregistered securities in private placements. According to Aptevo, the company agreed to file a registration statement with the SEC covering resale of these shares of common stock.