Atossa Therapeutics Announces Pricing of $50.0 Million Registered Direct Offering Priced At-The-Market
Rhea-AI Summary
Atossa Therapeutics (Nasdaq: ATOS) announced a registered direct offering of $50 million in common stock and warrants priced at $2.88 per share. The agreement involves the sale of 17,361,100 shares and unregistered warrants for an additional 13,020,825 shares with a four-and-a-half-year expiration period. The offering, expected to close on March 24, 2021, is facilitated by Maxim Group LLC. Proceeds will support the company's clinical-stage operations focusing on oncology and infectious diseases. This move may impact shareholder equity through potential dilution.
Positive
- The company anticipates raising approximately $50 million to support clinical development.
- The offering is aimed at financing innovative medicines in oncology and infectious diseases.
Negative
- The offering may result in shareholder dilution due to the issuance of new shares and warrants.
News Market Reaction
On the day this news was published, ATOS declined 10.07%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SEATTLE, March 22, 2021 (GLOBE NEWSWIRE) -- Atossa Therapeutics, Inc. (Nasdaq: ATOS) (the “Company” or “Atossa”), a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need in oncology and infectious diseases with a current focus on breast cancer and COVID-19, announced today that it has entered into a securities purchase agreement with institutional investors to purchase
Under the terms of the securities purchase agreement, the Company has agreed to sell 17,361,100 shares of the Company’s common stock and issue unregistered warrants to purchase up to an additional 13,020,825 shares of common stock in a concurrent private placement. The warrants have an exercise price of
Maxim Group LLC is acting as the sole placement agent in connection with the offering.
The gross proceeds to the Company from the registered direct offering are estimated to be approximately
The shares of common stock described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-248555), which was declared effective by the United States Securities and Exchange Commission (“SEC”) on September 10, 2020. The offering of the shares of common stock will be made only by means of a prospectus supplement that forms a part of the registration statement. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Maxim Group LLC, 405 Lexington Avenue, New York, NY 10174, Attention: Syndicate Department, or via email at syndicate@maximgrp.com or telephone at (212) 895-3745.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Atossa Therapeutics
Atossa Therapeutics, Inc. is a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need in oncology and infectious diseases with a current focus on breast cancer and COVID-19. For more information, please visit www.atossatherapeutics.com.
Forward-Looking Statements Disclaimer Statement
Forward-looking statements in this press release, which Atossa undertakes no obligation to update, are subject to risks and uncertainties that may cause actual results to differ materially from the anticipated or estimated future results, including, without limitation, statements regarding the satisfaction of closing conditions relating to the offering and the anticipated use of proceeds from the offering, the risks and uncertainties associated with any variation between interim and final clinical results, actions and inactions by the FDA, the outcome or timing of regulatory approvals needed by Atossa including those needed to commence studies of AT-H201, AT-301 and Endoxifen, lower than anticipated rate of patient enrollment, estimated market size of drugs under development, the safety and efficacy of Atossa’s products, performance of clinical research organizations and investigators, obstacles resulting from proprietary rights held by others such as patent rights, whether reduction in Ki-67 or any other result from a neoadjuvant study is an approvable endpoint for oral Endoxifen, and other risks detailed from time to time in Atossa’s filings with the Securities and Exchange Commission, including without limitation its periodic reports on Form 10-K and 10-Q, each as amended and supplemented from time to time.
Company Contact:
Atossa Therapeutics, Inc.
Kyle Guse CFO and General Counsel
Office: 866 893-4927
kyle.guse@atossainc.com
Investor Relations Contact:
Core IR
Office:(516) 222-2560
ir@atossainc.com
FAQ
What is the amount Atossa Therapeutics is raising in the current offering?
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