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MAIA Biotechnology Announces $2.44 Million Private Placement

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MAIA Biotechnology (NYSE American: MAIA) has secured a $2.44 million private placement through the sale of 1,079,784 common stock shares at $2.259 per share to accredited investors and company directors. Each share comes with a warrant to purchase one additional share at $2.51, exercisable after six months with a five-year term. The proceeds will fund the manufacturing of THIO for the Phase 2 THIO-101 trial in non-small cell lung cancer (NSCLC) and working capital. The private placement is expected to close around October 30, 2024.

MAIA Biotechnology (NYSE American: MAIA) ha ottenuto un collocamento privato di 2,44 milioni di dollari tramite la vendita di 1.079.784 azioni comuni a 2,259 dollari per azione a investitori accreditati e membri del consiglio dell'azienda. Ogni azione include un'opzione per acquistare un'ulteriore azione a 2,51 dollari, esercitabile dopo sei mesi con un termine di cinque anni. I proventi verranno utilizzati per finanziare la produzione di THIO per il trial di Fase 2 THIO-101 nel carcinoma polmonare non a piccole cellule (NSCLC) e per il capitale circolante. Si prevede che il collocamento privato si concluda intorno al 30 ottobre 2024.

MAIA Biotechnology (NYSE American: MAIA) ha conseguido un colocación privada de 2,44 millones de dólares mediante la venta de 1.079.784 acciones ordinarias a 2,259 dólares por acción a inversores acreditados y directores de la empresa. Cada acción incluye un warrant para comprar una acción adicional a 2,51 dólares, que se puede ejercer después de seis meses con un término de cinco años. Los ingresos se destinarán a financiar la fabricación de THIO para el ensayo de Fase 2 THIO-101 en cáncer de pulmón no microcítico (NSCLC) y para capital de trabajo. Se espera que la colocación privada cierre alrededor del 30 de octubre de 2024.

MAIA 바이오테크놀로지 (NYSE American: MAIA)는 를 확보했습니다. 이는 인증된 투자자 및 회사 이사에게 주당 2.259달러에 1,079,784주의 보통주를 판매함으로써 이루어졌습니다. 각 주식은 6개월 후 행사할 수 있는 5년 기한의 2.51달러에 추가 주식을 구매할 수 있는 워런트가 함께 제공됩니다. 이 자금은 THIO의 제조와 비소세포폐암 (NSCLC) 대상의 THIO-101 2상 임상 시험의 자금을 조달하는 데 사용됩니다. 사모 펀드는 2024년 10월 30일 경에 마감될 것으로 예상됩니다.

MAIA Biotechnology (NYSE American : MAIA) a sécurisé un placement privé de 2,44 millions de dollars grâce à la vente de 1 079 784 actions ordinaires au prix de 2,259 dollars par action à des investisseurs accrédités et des administrateurs de l'entreprise. Chaque action est accompagnée d'un bon d'option pour acheter une action supplémentaire à 2,51 dollars, exerçable après six mois avec une durée de cinq ans. Les produits seront utilisés pour financer la fabrication de THIO pour l'essai THIO-101 de Phase 2 dans le cadre du cancer du poumon non à petites cellules (NSCLC) et pour le fonds de roulement. Le placement privé devrait être clôturé aux alentours du 30 octobre 2024.

MAIA Biotechnology (NYSE American: MAIA) hat eine Private Placement von 2,44 Millionen Dollar durch den Verkauf von 1.079.784 Stammaktien zu einem Preis von 2,259 Dollar pro Aktie an akkreditierte Investoren und Unternehmensvorstände gesichert. Jede Aktie enthält ein Optionsrecht, um eine zusätzliche Aktie zu einem Preis von 2,51 Dollar zu kaufen, das nach sechs Monaten mit einer Laufzeit von fünf Jahren ausgeübt werden kann. Die Einnahmen werden zur Finanzierung der Produktion von THIO für die Phase-2-Studie THIO-101 bei nicht-kleinzelligem Lungenkrebs (NSCLC) und für das Betriebskapital verwendet. Es wird erwartet, dass die Private Placement rund um den 30. Oktober 2024 abgeschlossen wird.

Positive
  • Secured $2.44 million in additional funding
  • Proceeds will support Phase 2 THIO-101 trial manufacturing
Negative
  • Potential dilution for existing shareholders through new share issuance
  • Additional dilution possible through warrant exercise

Insights

This $2.44 million private placement represents a significant capital raise for MAIA Biotechnology, though relatively modest given their $60.45 million market cap. The deal structure at $2.259 per share with one-for-one warrants at $2.51 shows typical biotech financing terms. The 11.2% warrant premium above the share price provides some upside potential for investors.

Notable is the participation of company directors, signaling internal confidence. However, the dilutive impact is considerable, with the 1,079,784 new shares representing potential dilution of about 10% if all warrants are exercised. The funds' allocation toward THIO manufacturing for Phase 2 trials indicates near-term clinical development priorities but suggests ongoing cash burn concerns typical of clinical-stage biotechs.

CHICAGO--(BUSINESS WIRE)-- MAIA Biotechnology, Inc., (NYSE American: MAIA) (“MAIA”, the “Company”), a clinical-stage biopharmaceutical company developing targeted immunotherapies for cancer, today announced that it has entered into definitive agreements for the purchase and sale of an aggregate of 1,079,784 shares of common stock at a purchase price of $2.259 per share, in a private placement to accredited investors and certain Company directors. Each share of common stock is being offered together with a warrant to purchase one share of common stock at an exercise price of $2.51 per share, which price represents the greater of the book or market value of the stock on the date the definitive agreements were executed (subject to customary adjustments as set forth in the warrants). The warrants are exercisable commencing six months following issuance and have a term of five years from the initial exercise date. The securities being sold to the Company director participating in the offering are being issued pursuant to the Company’s 2021 Equity Incentive Plan. The private placement is expected to close on or about October 30, 2024, subject to the satisfaction of customary closing conditions.

The gross proceeds from the offering are expected to be approximately $2.44 million, prior to offering expenses payable by the Company. The Company intends to use the net proceeds from the offering to fund manufacturing of THIO to be used in the Phase 2 THIO-101 trial in non-small cell lung cancer (NSCLC) and as working capital.

The securities described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

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 other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About MAIA Biotechnology, Inc.

MAIA is a targeted therapy, immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action that are intended to meaningfully improve and extend the lives of people with cancer. Our lead program is THIO, a potential first-in-class cancer telomere targeting agent in clinical development for the treatment of NSCLC patients with telomerase-positive cancer cells. For more information, please visit www.maiabiotech.com.

Forward Looking Statements

MAIA cautions that all statements, other than statements of historical facts contained in this press release, are forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels or activity, performance or achievements to be materially different from those anticipated by such statements. The use of words such as “may,” “might,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “future,” “potential,” or “continue,” and other similar expressions are intended to identify forward looking statements. However, the absence of these words does not mean that statements are not forward-looking. For example, all statements we make regarding (i) the initiation, timing, cost, progress and results of our preclinical and clinical studies and our research and development programs, (ii) our ability to advance product candidates into, and successfully complete, clinical studies, (iii) the timing or likelihood of regulatory filings and approvals, (iv) our ability to develop, manufacture and commercialize our product candidates and to improve the manufacturing process, (v) the rate and degree of market acceptance of our product candidates, (vi) the size and growth potential of the markets for our product candidates and our ability to serve those markets, (vii) our expectations regarding our ability to obtain and maintain intellectual property protection for our product candidates; (viii) the completion of the offering and (ix) the satisfaction of customary closing conditions related to the offering, are forward looking. All forward-looking statements are based on current estimates, assumptions and expectations by our management that, although we believe to be reasonable, are inherently uncertain. Any forward-looking statement expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and are subject to risks and uncertainties and other factors beyond our control that may cause actual results to differ materially from those expressed in any forward-looking statement. Any forward-looking statement speaks only as of the date on which it was made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. In this release, unless the context requires otherwise, “MAIA,” “Company,” “we,” “our,” and “us” refers to MAIA Biotechnology, Inc. and its subsidiaries.

Investor Relations Contact

+1 (872) 270-3518

ir@maiabiotech.com

Source: MAIA Biotechnology, Inc.

FAQ

What is the size of MAIA Biotechnology's private placement announced in 2024?

MAIA Biotechnology announced a $2.44 million private placement through the sale of 1,079,784 shares at $2.259 per share.

What are the terms of the warrants in MAIA's 2024 private placement?

The warrants have an exercise price of $2.51 per share, are exercisable after six months, and have a five-year term from the initial exercise date.

How will MAIA Biotechnology use the proceeds from the private placement?

MAIA will use the proceeds to fund THIO manufacturing for the Phase 2 THIO-101 trial in non-small cell lung cancer (NSCLC) and for working capital.

MAIA Biotechnology, Inc.

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