BioAtla Announces Closing of Initial Public Offering and Full Exercise of the Underwriters' Option to Purchase Additional Shares

Rhea-AI Summary

BioAtla, a clinical-stage biopharmaceutical company, announced the closing of its initial public offering (IPO) of 12,075,000 shares at a price of $18.00 per share. This included the full exercise of the underwriters' option to purchase additional shares. The offering generated gross proceeds of approximately $217.4 million, before expenses. The shares began trading on the Nasdaq on December 16, 2020 under the ticker symbol BCAB.

J.P. Morgan, Jefferies, and Credit Suisse served as joint book-running managers for the offering.

Positive

• Generated gross proceeds of approximately $217.4 million from the IPO.
• Shares began trading on Nasdaq, increasing visibility and potential investor interest.

Negative

• Dilution risk for existing shareholders due to the new share offering.

SAN DIEGO, Dec. 18, 2020 /PRNewswire/ -- BioAtla, Inc. (Nasdaq: BCAB), a clinical-stage biopharmaceutical company developing a novel class of highly specific and selective antibody-based therapeutics for the treatment of solid tumor cancer, today announced the closing of its initial public offering of 12,075,000 shares of common stock at a public offering price of $18.00 per share, which includes 1,575,000 shares sold upon full exercise of the underwriters' option to purchase additional shares of common stock. All of the shares of common stock were offered by BioAtla. The shares of common stock began trading on the Nasdaq Global Market on December 16, 2020 under the ticker symbol "BCAB." The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by BioAtla, were approximately $217.4 million.

J.P. Morgan, Jefferies and Credit Suisse acted as joint book-running managers for the offering. BTIG acted as co-manager for the offering.

Registration statements relating to these securities became effective on December 15, 2020. Copies of the registration statements can be accessed by visiting the Securities and Exchange Commission website at www.sec.gov. The securities referred to in this release were offered only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by telephone at (800) 221-1037, or by e-mail at usa.prospectus@credit-suisse.com.

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 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 BioAtla
BioAtla is a clinical-stage biopharmaceutical company developing a novel class of highly specific and selective antibody-based therapeutics for the treatment of solid tumor cancer.

Media Contact:
Richard A. Waldron, CFO
BioAtla, Inc.
info@bioatla.com 

Investor Contact:
Richard A. Waldron, CFO
BioAtla, Inc.
rwaldron@bioatla.com 

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SOURCE BioAtla, Inc.

FAQ

What was the share price for BioAtla's IPO on December 16, 2020?

The share price for BioAtla's IPO was $18.00.

How many shares were offered in BioAtla's initial public offering?

BioAtla offered 12,075,000 shares in its initial public offering.

What were the gross proceeds from BioAtla's IPO?

The gross proceeds from BioAtla's IPO were approximately $217.4 million.

Who acted as joint book-running managers for BioAtla's IPO?

J.P. Morgan, Jefferies, and Credit Suisse acted as joint book-running managers.

When did BioAtla's shares start trading on Nasdaq?

BioAtla's shares began trading on Nasdaq on December 16, 2020.