HOOKIPA Pharma Announces Closing of Public Offering of $80.9 Million of Common Stock and Preferred Stock, Including Full Exercise of Underwriters’ Option

Rhea-AI Summary

HOOKIPA Pharma announced the closing of its underwritten public offering, raising approximately $80.9 million through the sale of 3,910,000 shares of common stock at $11.75 each and 2,978 shares of Series A convertible preferred stock at $11,750 each. The preferred shares are convertible into 1,000 common shares. The offering was managed by Morgan Stanley and SVB Leerink, with RBC Capital Markets as lead manager. Proceeds will likely support HOOKIPA's development of immunotherapeutics targeting infectious diseases and cancers.

Positive

• Raised approximately $80.9 million from the offering.
• Completion of the offering supports development of immunotherapeutics.

Negative

• Dilution risk for existing shareholders due to new shares issued.

NEW YORK and VIENNA, Austria, Dec. 11, 2020 (GLOBE NEWSWIRE) -- HOOKIPA Pharma Inc. (Nasdaq: HOOK), a company developing a new class of immunotherapeutics based on its proprietary arenavirus platform, today announced the closing of its previously announced underwritten public offering of an aggregate of 3,910,000 shares of its common stock and 2,978 shares of its Series A convertible preferred stock (the “Offering”). The public offering price of each share of common stock is $11.75 and the public offering price of each share of Series A preferred stock is $11,750 (each share of Series A preferred stock is convertible into 1,000 shares of common stock). The gross proceeds to HOOKIPA from this offering are expected to be approximately $80.9 million before deducting underwriting discounts and commissions and other offering expenses, which includes the exercise in full of the underwriters’ option to purchase 510,000 additional shares. All of the securities in the Offering were sold by HOOKIPA.

Morgan Stanley and SVB Leerink acted as joint book-running managers of the Offering. RBC Capital Markets acted as lead manager.

The securities described above were offered by HOOKIPA pursuant to a shelf registration statement on Form S-3 (No. 333-238311), including a base prospectus filed with the Securities and Exchange Commission (the “SEC”), which was declared effective on May 27, 2020. A final prospectus supplement and accompanying prospectus relating to the Offering have been filed with the SEC and are available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus may also be obtained, when available, from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or email: prospectus@morganstanley.com or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, Massachusetts 02110; by telephone at (800) 808-7525, ext. 6132; or email: syndicate@svbleerink.com.

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 HOOKIPA Pharma
HOOKIPA Pharma Inc. (NASDAQ: HOOK) is a clinical stage biopharmaceutical company developing a new class of immunotherapeutics targeting infectious diseases and cancers based on its proprietary arenavirus platform that reprograms the body’s immune system.

Forward-Looking Statement
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the completion of the proposed offering and the use of proceeds from the proposed offering. The use of words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “future,” “potential,” or “continue,” and other similar expressions are intended to identify such forward-looking statements. All such forward-looking statements are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, without limitation, uncertainties related to those risks more fully discussed in the section entitled "Risk Factors" in HOOKIPA’s annual report on Form 10-K for the fiscal year ended December 31, 2019 and its quarterly report on Form 10-Q for the quarter ended September 30, 2020, which are available at www.sec.gov, as well as discussions of potential risks, uncertainties, and other important factors in HOOKIPA’s subsequent filings with the Securities and Exchange Commission. Any forward-looking statements represent HOOKIPA’s views only as of today and should not be relied upon as representing its views as of any subsequent date. All information in this press release is as of the date of the release, and HOOKIPA undertakes no duty to update this information unless required by law.

For further information, please contact:

Media	Investors
Nina Waibel	Matt Beck
Senior Director - Communications	Executive Director - Investor Relations
nina.waibel@hookipapharma.com	matthew.beck@hookipapharma.com

FAQ

What are the details of HOOK's public offering?

HOOKIPA's public offering consisted of 3,910,000 shares of common stock priced at $11.75 each and 2,978 shares of Series A convertible preferred stock priced at $11,750 each.

How much capital did HOOKIPA raise from the offering?

HOOKIPA raised approximately $80.9 million before deducting expenses from the public offering.

What is the expected use of proceeds from HOOKIPA's offering?

The proceeds are expected to fund the development of HOOKIPA's immunotherapeutics targeting infectious diseases and cancers.

Who managed HOOKIPA's public offering?

Morgan Stanley and SVB Leerink acted as joint book-running managers for the offering, while RBC Capital Markets served as lead manager.