BriaCell Therapeutics Announces Closing of $13.8 million Public Offering
Rhea-AI Summary
BriaCell Therapeutics, a clinical-stage biotech company focused on cancer immunotherapy, has successfully closed its public offering raising $13.8 million in gross proceeds. The offering consisted of 3,066,666 units, including 399,999 units from the full exercise of the underwriter's option.
Each unit, priced at $4.50, includes one common share (or pre-funded warrant) and one warrant. The warrants, trading under symbol BCTXZ on Nasdaq, allow holders to purchase one common share at $5.25 and expire in five years.
- ThinkEquity served as the sole book-running manager
- Offering was registered with SEC (Form S-1 File No. 333-286670)
- Funds will support working capital, corporate purposes, and business objectives
The transaction utilized the TSX Company Manual Section 602.1 exemption for eligible Nasdaq-interlisted issuers. The offering was conducted through a prospectus available via ThinkEquity and the SEC website.
Positive
- Successfully raised $13.8 million in gross proceeds through public offering
- Full exercise of underwriter's option to purchase additional units, showing strong demand
- 5-year warrant term provides long-term optionality for investors
- Dual-listed on major exchanges (Nasdaq and TSX) providing better trading liquidity
Negative
- Dilutive share offering impacting existing shareholders
- Offering price of $4.50 per unit indicates potential discount to market price
- Company requires additional capital for working capital and operations
- Pre-funded warrants and additional warrants could lead to future dilution if exercised
News Market Reaction – BCTX
On the day this news was published, BCTX declined 8.20%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
PHILADELPHIA and VANCOUVER, British Columbia, April 28, 2025 (GLOBE NEWSWIRE) -- BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXZ) (TSX: BCT) (“BriaCell” or the “Company”), a clinical-stage biotechnology company that develops novel immunotherapies to transform cancer care, today announced the closing of its previously announced underwritten public offering of 3,066,666 units, including 399,999 units sold upon the full exercise of the underwriter’s option to purchase additional units. Each unit consists of one common share (or pre-funded warrant (“Pre-Funded Warrant”) in lieu thereof) and one warrant (the “Warrants”). Each unit was sold to the public at a price of
The Company intends to use the net proceeds from the offering for working capital requirements, general corporate purposes, and the advancement of business objectives.
ThinkEquity acted as the sole book-running manager for the offering.
A registration statement on Form S-1 (File No. 333-286670) relating to the securities was filed with the Securities and Exchange Commission (“SEC”) and became effective on April 24, 2025, and a related registration statement was filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended. This offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. The final prospectus has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov.
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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About BriaCell Therapeutics
BriaCell is a clinical-stage biotechnology company that develops novel immunotherapies to transform cancer care. More information is available at https://briacell.com/.
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission as well as in the Company's other filings with the Canadian securities regulatory authorities and the Securities and Exchange Commission, all of which are available under the Company's profiles on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
Company Contact:
William V. Williams, MD
President & CEO
1-888-485-6340
info@briacell.com
Investor Relations Contact:
investors@briacell.com
FAQ
How much did BriaCell (BCTX) raise in their April 2025 public offering?
What is included in BriaCell's (BCTX) April 2025 public offering units?
When will BCTX warrants start trading on Nasdaq?
How will BriaCell use the proceeds from their $13.8M offering?
What was the exercise price for BriaCell (BCTX) warrants in the April 2025 offering?
