Aptose Biosciences Inc. Announces Closing of $8 Million Public Offering
Aptose Biosciences has closed its previously announced public offering, raising $8 million through the sale of 40 million common shares at $0.20 per share. The offering included warrants to purchase up to 20 million common shares at $0.25 per share, exercisable immediately and expiring in five years. The CEO and both existing and new healthcare-focused investors participated in the offering. The company plans to use the net proceeds for working capital and general corporate purposes. A.G.P./Alliance Global Partners served as the sole placement agent for the offering.
Aptose Biosciences ha concluso la sua offerta pubblica precedentemente annunciata, raccogliendo 8 milioni di dollari attraverso la vendita di 40 milioni di azioni ordinarie a 0,20 dollari per azione. L'offerta includeva warrant per l'acquisto di fino a 20 milioni di azioni ordinarie a 0,25 dollari per azione, esercitabili immediatamente e con scadenza in cinque anni. Il CEO e sia gli investitori attuali che quelli nuovi focalizzati sulla sanità hanno partecipato all'offerta. L'azienda prevede di utilizzare il ricavato netto per il capitale circolante e scopi aziendali generali. A.G.P./Alliance Global Partners ha servito come unico agente di collocamento per l'offerta.
Aptose Biosciences ha cerrado su oferta pública previamente anunciada, recaudando 8 millones de dólares a través de la venta de 40 millones de acciones comunes a 0,20 dólares por acción. La oferta incluía opciones para comprar hasta 20 millones de acciones comunes a 0,25 dólares por acción, ejercitables inmediatamente y con vencimiento en cinco años. El CEO y tanto los inversores existentes como los nuevos enfocados en el sector de la salud participaron en la oferta. La compañía planea usar los ingresos netos para capital de trabajo y fines corporativos generales. A.G.P./Alliance Global Partners actuó como el único agente de colocación para la oferta.
Aptose Biosciences는 이전에 발표한 공모를 완료하여 800만 달러를 모금했습니다. 이는 4000만 보통주를 주당 0.20 달러에 판매한 결과입니다. 이 공모에는 주당 0.25 달러에 2000만 보통주를 구매할 수 있는 워런트가 포함되어 있으며, 즉시 행사 가능하고 5년 후 만료됩니다. CEO와 기존 및 신규 헬스케어 중심의 투자자들이 공모에 참여했습니다. 회사는 순이익을 운영 자본 및 일반 기업 용도로 사용할 계획입니다. A.G.P./Alliance Global Partners는 이 공모의 단독 배급 대행사로 활동했습니다.
Aptose Biosciences a terminé son offre publique précédemment annoncée, levant ainsi 8 millions de dollars par la vente de 40 millions d'actions ordinaires à 0,20 dollar par action. L'offre incluait des bons de souscription permettant d'acheter jusqu'à 20 millions d'actions ordinaires à 0,25 dollar par action, exerçables immédiatement et expirant dans cinq ans. Le PDG et des investisseurs existants ainsi que nouveaux axés sur la santé ont participé à l'offre. La société prévoit d'utiliser le produit net à des fins de fonds de roulement et pour des besoins d'entreprise généraux. A.G.P./Alliance Global Partners a agi en tant qu'agent de placement unique pour l'offre.
Aptose Biosciences hat sein zuvor angekündigtes öffentliches Angebot abgeschlossen und 8 Millionen Dollar durch den Verkauf von 40 Millionen Stammaktien zu einem Preis von 0,20 Dollar pro Aktie eingenommen. Das Angebot beinhaltete Warrants zum Kauf von bis zu 20 Millionen Stammaktien zu einem Preis von 0,25 Dollar pro Aktie, die sofort ausgeübt werden können und in fünf Jahren ablaufen. Der CEO sowie sowohl bestehende als auch neue, auf Gesundheitswesen fokussierte Investoren nahmen an dem Angebot teil. Das Unternehmen plant, den Nettoerlös für Betriebskapital und allgemeine Unternehmenszwecke zu verwenden. A.G.P./Alliance Global Partners fungierte als alleiniger Platzierungsagent für das Angebot.
- CEO participation in the offering demonstrates management confidence
- Successfully raised $8 million in new capital
- Attracted new healthcare-focused investors
- Significant shareholder dilution with 40 million new shares issued
- Low offering price of $0.20 per share indicates weak market position
- Additional potential dilution from 20 million warrants
- Warrants priced at minimal premium ($0.25) to offering price
Insights
The
The CEO's participation signals management confidence, but the financing terms are notably unfavorable. The inclusion of warrants covering 50% of the offering at a minimal premium suggests additional future dilution risk. While the capital injection provides operational runway, the terms reflect the company's difficult position in accessing capital markets.
SAN DIEGO and TORONTO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Aptose Biosciences Inc. (“Aptose” or the “Company”) (NASDAQ: APTO, TSX: APS), a clinical-stage precision oncology company developing highly differentiated oral targeted agents to treat hematologic malignancies, today announced the closing of its previously announced "reasonable best efforts" public offering with participation from the CEO and existing and new healthcare focused investors for the purchase and sale of 40,000,000 common shares at a price of
A.G.P./Alliance Global Partners is acting as the sole placement agent for the Offering.
The securities described above were offered pursuant to a registration statement on Form S-1 (File No. 333-281201) previously filed with the Securities and Exchange Commission ("SEC") on August 2, 2024, as amended, which was declared effective on November 21, 2024. This Offering was made only by means of a prospectus forming part of the effective registration statement. A preliminary prospectus relating to the Offering has been filed with the SEC. An electronic copy of the final prospectus relating to the Offering may be obtained on the SEC's website located at http://www.sec.gov and may also be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.
This press release shall not constitute an offer to sell or the 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 Aptose
Aptose Biosciences is a clinical-stage biotechnology company committed to developing precision medicines addressing unmet medical needs in oncology, with an initial focus on hematology. The Company's small molecule cancer therapeutics pipeline includes products designed to provide single agent efficacy and to enhance the efficacy of other anti-cancer therapies and regimens without overlapping toxicities. The Company’s lead clinical-stage, oral kinase inhibitor tuspetinib (TUS) has demonstrated activity as a monotherapy and in combination therapy in patients with relapsed or refractory acute myeloid leukemia (AML), and is being developed as a frontline triplet therapy in newly diagnosed AML. For more information, please visit www.aptose.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Canadian and U.S. securities laws, including, but not limited to, statements relating to the intended use of proceeds and statements relating to the Company’s plans, objectives, expectations and intentions and other statements including words such as “continue”, “expect”, “intend”, “will”, “hope” “should”, “would”, “may”, “potential” and other similar expressions. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherently subject to significant market and other conditions, business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others: our ability to obtain the capital required for research and operations; the inherent risks in early stage drug development including demonstrating efficacy; development time/cost and the regulatory approval process; the progress of our clinical trials; our ability to find and enter into agreements with potential partners; our ability to attract and retain key personnel; changing market and economic conditions; unexpected manufacturing defects and other risks detailed from time-to-time in our ongoing current reports, quarterly filings, annual information forms, annual reports and annual filings with Canadian securities regulators and the United States Securities and Exchange Commission.
Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled "Risk Factors" in our filings with Canadian securities regulators and the United States Securities and Exchange Commission underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
For further information, please contact:
| Aptose Biosciences Inc. | |
| Susan Pietropaolo | |
| Corporate Communications & Investor Relations | |
| 201-923-2049 | |
| spietropaolo@aptose.com |
FAQ
How much did Aptose Biosciences (APTO) raise in its November 2024 public offering?
What are the terms of the warrants issued in Aptose's (APTO) November 2024 offering?
How will Aptose Biosciences (APTO) use the proceeds from its November 2024 offering?
