Marker Therapeutics, Inc. Announces Closing of Public Offering of Common Stock

Rhea-AI Summary

Marker Therapeutics, Inc. (Nasdaq: MRKR) has completed an underwritten public offering of 32,282,857 shares of common stock at a price of $1.75 per share, generating approximately $56.5 million in gross proceeds. The offering, managed by Piper Sandler & Co., Cantor Fitzgerald & Co., and Oppenheimer & Co. Inc., was conducted under a shelf registration statement declared effective by the SEC on June 25, 2019. The funds raised are expected to support the company’s development of T cell-based immunotherapies for hematological malignancies and solid tumors.

Positive

• Raised approximately $56.5 million to support clinical development.
• Potential for advancing next-generation T cell-based immunotherapies.

Negative

• Dilution of existing shareholders' equity due to the public offering.

HOUSTON, March 16, 2021 /PRNewswire/ -- Marker Therapeutics, Inc. (Nasdaq: MRKR), a clinical-stage immuno-oncology company specializing in the development of next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumor indications, today announced the closing of an underwritten public offering of 32,282,857 shares of its common stock at a public offering price of $1.75 per share. The gross proceeds to Marker from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $56.5 million. 

Piper Sandler & Co. acted as the sole active book-running manager for the offering. Cantor Fitzgerald & Co. also acted as a book-running manager for the offering. Oppenheimer & Co. Inc. acted as the lead manager and Roth Capital Partners acted as the co-manager for the offering.

The offering was made pursuant to a shelf registration statement, including a base prospectus, filed by Marker that was declared effective by the Securities and Exchange Commission ("SEC") on June 25, 2019. The offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. An electronic copy of the final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. Alternatively, a copy of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924 or by email at prospectus@psc.com; or Cantor Fitzgerald & Co., Attention: Capital Markets Department, 499 Park Avenue, New York, NY 10022, or email: prospectus@cantor.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 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.

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SOURCE Marker Therapeutics, Inc.

FAQ

What was the public offering price for Marker Therapeutics (MRKR)?

The public offering price was $1.75 per share.

How many shares were offered in the Marker Therapeutics (MRKR) public offering?

A total of 32,282,857 shares were offered.

What are the expected proceeds from the Marker Therapeutics (MRKR) offering?

The expected gross proceeds are approximately $56.5 million.

Who managed the public offering for Marker Therapeutics (MRKR)?

Piper Sandler & Co. served as the sole active book-running manager for the offering.

When was the registration statement for Marker Therapeutics (MRKR) declared effective?

The registration statement was declared effective on June 25, 2019.