Bellicum Pharmaceuticals Announces Closing of $25.0 Million Underwritten Offering

Rhea-AI Summary

Bellicum Pharmaceuticals (Nasdaq:BLCM) has completed an underwritten public offering, raising approximately $25 million. The offering included 1,040,000 shares of common stock, pre-funded warrants for 3,109,378 shares, and accompanying warrants for an additional 4,149,378 shares. Each common share was sold at $6.025, while pre-funded warrants were priced at $6.024. The exercise prices for the warrants are set at $0.001 and $6.50 per share, respectively. H.C. Wainwright & Co. managed the offering.

Positive

• Raised approximately $25 million from the public offering.
• Inclusion of pre-funded warrants may attract more investors.

Negative

• Potential shareholder dilution due to the issuance of new shares.
• Dependence on the market's acceptance of the offered securities.

HOUSTON, Nov. 03, 2020 (GLOBE NEWSWIRE) -- Bellicum Pharmaceuticals, Inc. (Nasdaq:BLCM), a leader in developing novel, controllable cellular immunotherapies for cancers, today announced the closing of its underwritten offering of 1,040,000 shares of common stock, pre-funded warrants to purchase 3,109,378 shares of common stock and accompanying warrants to purchase up to 4,149,378 shares of common stock. Each share of common stock was sold together with a warrant to purchase one share of common stock at a combined offering price of $6.025 and each pre-funded warrant to purchase one share of common stock was sold together with a warrant to purchase one share of common stock at a combined offering price of $6.024. The exercise price of each pre-funded warrant is $0.001 per share and the exercise price of each accompanying warrant to purchase common stock is $6.50 per share.

The gross proceeds to Bellicum from the offering were approximately $25.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by Bellicum, and excluding any proceeds that may be received upon exercise of the common warrants.

H.C. Wainwright & Co. acted as sole book-running manager for the offering.

The securities described above were offered by Bellicum pursuant to a shelf registration statement filed by Bellicum with the Securities and Exchange Commission (SEC), which was declared effective on July 30, 2019. The final prospectus supplement and accompanying base prospectus related to the offering may be obtained by contacting H.C. Wainwright & Co., LLC, by emailing placements@hcwco.com or by calling 646-975-6996, or by visiting the SEC’s website at http://www.sec.gov.

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 Bellicum Pharmaceuticals

Bellicum is a clinical stage biopharmaceutical company striving to deliver cures through controllable cell therapies. The company’s next-generation product candidates are differentiated by powerful cell signaling technologies designed to produce more effective CAR-T cell therapies. Bellicum’s GoCAR-T^® product candidates, BPX-601 and BPX-603, are designed to be more efficacious CAR-T cell products capable of overriding key immune inhibitory mechanisms.

Source: Bellicum Pharmaceuticals

Investors:
Robert H. Uhl
Managing Director
Westwicke ICR
858-356-5932
Robert.uhl@westwicke.com

FAQ

What was the purpose of Bellicum Pharmaceuticals' recent offering?

The offering aimed to raise capital, with gross proceeds of approximately $25 million.

How many shares and warrants were included in the Bellicum Pharmaceuticals offering?

The offering included 1,040,000 shares of common stock, pre-funded warrants for 3,109,378 shares, and warrants for 4,149,378 additional shares.

What is the exercise price for the warrants from Bellicum Pharmaceuticals' offering?

The exercise price for the pre-funded warrants is $0.001 per share, and the exercise price for the accompanying warrants is $6.50 per share.

Who managed the underwritten offering for Bellicum Pharmaceuticals?

H.C. Wainwright & Co. acted as the sole book-running manager for the offering.

What could be the impact of the offering on existing shareholders of BLCM?

The issuance of new shares could lead to potential dilution for existing shareholders.