Anixa Biosciences Announces $10 Million Bought Deal Offering of Common Stock
Anixa Biosciences, Inc. (NASDAQ: ANIX) has announced a public offering of 1,904,762 shares at $5.25 per share, with expected gross proceeds of approximately $10 million. The offering is led by H.C. Wainwright & Co. and aims to fund ongoing research, clinical trials, and the development of new technologies. The offering's closing is anticipated around March 25, 2021, pending customary conditions. The registration of shares was effective as of June 21, 2019, and further details will be filed with the SEC.
- Expected gross proceeds of approximately $10 million to support ongoing research and clinical trials.
- Funds will be used for the development of new biological and pharmaceutical technologies.
- Dilution of existing shareholders due to the new stock offering.
SAN JOSE, Calif., March 22, 2021 /PRNewswire/ -- Anixa Biosciences, Inc. (NASDAQ: ANIX) ("Anixa" or the "Company"), a biotechnology company focused on the treatment and prevention of cancer and infectious diseases, today announced that it has entered into an underwriting agreement with H.C. Wainwright & Co. under which the underwriter has agreed to purchase on a firm commitment basis 1,904,762 shares of common stock of the Company at a public offering price of
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
The gross proceeds of the offering are expected to be approximately
The shares of common stock are being offered pursuant to an effective registration statement on Form S-3 (File No. 333-232067) that was filed with the U.S. Securities and Exchange Commission ("SEC") on June 11, 2019 and declared effective on June 21, 2019. The shares of common stock may be offered only by means of a prospectus supplement forming a part of the effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Electronic copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering, when filed, may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (212) 856-5711.
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 registration or qualification under the securities laws of any such state or jurisdiction.
About Anixa
Anixa Biosciences, Inc. is a publicly-traded biotechnology company developing a number of programs addressing cancer and infectious disease. Anixa's therapeutics portfolio includes a cancer immunotherapy program which uses a novel type of CAR-T, known as chimeric endocrine receptor T-cell (CER-T) technology, and a Covid-19 therapeutics program focused on inhibiting certain viral protein function. The company's vaccine portfolio includes a vaccine to prevent breast cancer, and specifically triple negative breast cancer (TNBC), the most deadly form of the disease, and a vaccine to prevent ovarian cancer. These vaccine technologies focus on immunizing against specific proteins that have been found to be expressed in certain forms of cancer. Anixa's therapeutic and vaccine programs are currently in the research or pre-clinical stage of development. Anixa continually examines emerging technologies in complementary fields for further development and commercialization. Additional information is available at www.anixa.com.
Forward-Looking Statements
This press release may contain "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These include statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements relating to expectations about future results or events are based upon information available to Anixa as of today's date and are not guarantees of the future performance of the company, and actual results may vary materially from the results and expectations discussed. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: market and other conditions, the completion of the public offering, the satisfaction of customary closing conditions related to the public offering and the intended use of net proceeds from the public offering. . Additional information concerning these and other risks is contained in Anixa's most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q, recent Current Reports on Form 8-K and other SEC filings. All subsequent written and oral forward-looking statements concerning Anixa, or other matters and attributable to Anixa or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Anixa does not undertake any obligation to publicly update any of these forward-looking statements to reflect events or circumstances that may arise after the date hereof, except as required by law.
Anixa Investor contact:
Mike Catelani
mcatelani@anixa.com
408-708-9808
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SOURCE Anixa Biosciences, Inc.
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