Navidea Biopharmaceuticals Informs Stockholders of Key Dates and Terms Related to Announced Rights Offering
Navidea Biopharmaceuticals (NYSE American: NAVB) announced its upcoming rights offering, allowing stockholders of record as of August 3, 2022 to participate. Each stockholder will receive a non-transferable subscription right to purchase one unit at a price of
- Rights offering allows stockholders to purchase additional shares, potentially increasing shareholder value.
- Subscription rights enable existing shareholders to maintain their proportional ownership in Navidea.
- Rights offering may dilute existing shares if not all stockholders participate.
- Company's financial stability may be questioned due to prior operating losses and need for additional financing.
Stockholders, warrant holders, preferred holders or interested parties are advised to direct all questions and informational requests to the contacts listed below.
Under the rights offering, Navidea will distribute one non-transferable subscription right for each one (1) share of common stock, each one (1) warrant and each one (1) share of preferred stock (on an as-if-converted-to-common-stock basis) held on the Record Date. Each subscription right will entitle the holder to purchase one unit, at a subscription price of
The subscription rights will be non-transferable and may only be exercised during the anticipated subscription period of
The expected calendar for the rights offering is as follows:
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August 1, 2022 : Ownership Day — in order to be considered a stockholder of record onAugust 3 , shares should be acquired by this date.
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August 3, 2022 : Record Date -
August 4, 2022 : Distribution Date; Subscription Period Begins -
August 17, 2022 : Subscription Period Ends5:00 PM ET (unless extended at Navidea’s sole discretion)
Holders who exercise their subscription rights in full will be entitled, if available, to subscribe for additional units that are not purchased by other stockholders, on a pro rata basis and subject to ownership limitations.
Navidea has engaged
A registration statement (Registration No. 333-262691) relating to these securities has been filed with the
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will 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 registration or qualification under the securities laws of any such state or jurisdiction.
About Navidea
Note on Forward-looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward-looking statements include our expectations, whether stated or implied, regarding our planned rights offering, financing plans and other future events.
Words such as “will,” “may,” “could,” “should,” “plan,” “continue,” “designed,” “goal,” “forecast,” “future,” “believe,” “intend,” “expect,” “anticipate,” “estimate,” “project,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond our control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including, among other things: our history of operating losses and ability to obtain additional financing; our ability to continue as a going concern; the final outcome of any pending litigation; our ability to successfully complete research and further development of our drug candidates; the timing, cost and uncertainty of obtaining regulatory approvals of our drug candidates; our ability to successfully commercialize our drug candidates; dependence on royalties and grant revenue; our ability to implement our growth strategy; anticipated trends in our business; our limited product line and distribution channels; advances in technologies and development of new competitive products; our ability to comply with the NYSE American continued listing standards; our ability to maintain effective internal control over financial reporting; the impact of the current coronavirus pandemic; and other risk factors detailed in our most recent Annual Report on Form 10-K and other
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Vice President of Operations
614-822-2365
jsmith@navidea.com
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