Calithera Biosciences, Inc. Announces Commencement of Underwritten Public Offering of Common Stock and Warrants to Purchase Common Stock

Rhea-AI Summary

Calithera Biosciences (CALA) announced plans for an underwritten public offering of common stock and warrants. The offering is contingent on market conditions and requires Nasdaq approval. Joint book-running managers for the offering include SVB Leerink and H.C. Wainwright & Co. A shelf registration statement for the securities was filed with the SEC and has been declared effective, with details to be available in a preliminary prospectus. This announcement does not constitute an offer to sell securities in jurisdictions where lawful registration is required.

Positive

• The offering is expected to provide additional capital for growth initiatives.
• The effective shelf registration allows for quicker access to the capital markets.

Negative

• Market conditions may impact the success and terms of the offering.
• Shareholder dilution could occur depending on the size of the offering.

SOUTH SAN FRANCISCO, Calif., March 29, 2022 (GLOBE NEWSWIRE) -- Calithera Biosciences, Inc. (Nasdaq: CALA), a clinical-stage, precision oncology biopharmaceutical company, today announced that it intends to offer and sell shares of its common stock, warrants to purchase shares of its common stock, and pre-funded warrants in an underwritten public offering. All of the shares of common stock, warrants and pre-funded warrants are being offered by Calithera.

SVB Leerink and H.C. Wainwright & Co. are acting as joint book-running managers for the offering.

The offering is subject to market conditions, as well as Nasdaq approval, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

A shelf registration statement relating to the offered securities was filed with the Securities and Exchange Commission (SEC), and was declared effective. 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, located at www.sec.gov. Copies of the prospectus related to the offering may be obtained, when available, from SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, by telephone at 1-800-808-7525, ext. 6105 or by email at syndicate@svbleerink.com, or from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, Attention: Placement, by telephone at 212-856-5711 or by email at placements@hcwco.com. 

This press release shall not constitute an offer to sell or a 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.

CONTACTS: Stephanie Wong Chief Financial Officer 650.870.1063 ir@Calithera.com  INVESTORS: Burns McClellan Lee Roth 212.213.0006 lroth@burnsmc.com

FAQ

What type of securities is Calithera offering in the March 2022 press release?

Calithera is offering shares of its common stock, warrants, and pre-funded warrants.

Who are the joint book-running managers for Calithera's public offering?

SVB Leerink and H.C. Wainwright & Co. are acting as joint book-running managers.

What is the status of the SEC filing for Calithera's securities offering?

A shelf registration statement relating to the offered securities has been filed and declared effective by the SEC.

Is Calithera's offering guaranteed to happen?

No, the offering is subject to market conditions and Nasdaq approval.

What risks are associated with Calithera's public offering?

Potential risks include market conditions affecting the offering and possible dilution for existing shareholders.