NexImmune Announces Pricing of Upsized Initial Public Offering

Rhea-AI Summary

NexImmune, a clinical-stage biotechnology company, has announced the pricing of its upsized IPO, offering 6,471,000 shares at $17.00 each, raising approximately $110 million. The shares will trade on the Nasdaq under the symbol NEXI, starting February 12, 2021, with the offering expected to close on February 17, 2021. The underwriters have a 30-day option to purchase an additional 970,650 shares. Barclays Capital, Cantor Fitzgerald, Raymond James, and Allen & Company are the joint book-running managers for this offering.

Positive

• Successfully upsized IPO raising approximately $110 million.
• Shares trading on Nasdaq under the symbol NEXI enhances visibility and liquidity.

Negative

• Potential dilution of shares due to the offering and underwriters' option for additional shares.

GAITHERSBURG, Md., Feb. 11, 2021 (GLOBE NEWSWIRE) -- NexImmune, Inc., a clinical-stage biotechnology company developing a novel approach to immunotherapy designed to employ the body’s own T cells to generate a specific, potent and durable immune response that mimics natural biology, today announced the pricing of its upsized initial public offering of 6,471,000 shares of its common stock at a price to the public of $17.00 per share. The gross proceeds to NexImmune from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be approximately $110 million. All of the shares are being offered by NexImmune. In addition, NexImmune has granted the underwriters a 30-day option to purchase up to an additional 970,650 shares of common stock at the initial price to the public less underwriting discounts and commissions.

The shares are expected to begin trading on the Nasdaq Global Market on February 12, 2021 under the symbol “NEXI.” The offering is expected to close on February 17, 2021, subject to customary closing conditions.

Barclays Capital Inc., Cantor Fitzgerald & Co., Raymond James & Associates, Inc. and Allen & Company LLC are acting as the joint book-running managers for this offering.

The registration statements relating to these securities were filed with the Securities and Exchange Commission and became effective on February 11, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained from Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (888) 603-5847, or email: barclaysprospectus@broadridge.com; Cantor Fitzgerald & Co., Attention: Capital Markets Department, 499 Park Avenue, New York, NY 10022, or email: prospectus@cantor.com; Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, telephone: (800) 248-8863, or email: prospectus@raymondjames.com; or Allen & Company LLC., Attention: Prospectus Department, 711 Fifth Avenue, New York, NY 10022, telephone: (212) 339-2220, or email: allenprospectus@allenco.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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 NexImmune

NexImmune, based in Gaithersburg, Maryland, is a clinical-stage biotechnology company developing a novel approach to immunotherapy designed to employ the body’s own T cells to generate a specific, potent and durable immune response that mimics natural biology.

Forward-Looking Statements

This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, statements regarding NexImmune’s expectations regarding the commencement of trading of its shares on the Nasdaq Global Market, the completion and timing of the closing of the offering and the anticipated gross proceeds from the offering. Forward-looking statements are based on NexImmune’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the satisfaction of customary closing conditions and the completion of the offering. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the prospectus related to the offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and NexImmune undertakes no duty to update such information except as required under applicable law.

Contacts

Investors:
Chad Rubin
Solebury Trout
646-378-2947
crubin@soleburytrout.com

Media:
Mike Beyer
Sam Brown Inc. Healthcare Communications
312-961-2502
mikebeyer@sambrown.com

FAQ

What is the price and size of NexImmune's IPO?

NexImmune's IPO consists of 6,471,000 shares priced at $17.00 each, aiming to raise approximately $110 million.

When will NexImmune's shares start trading?

NexImmune's shares are expected to begin trading on the Nasdaq on February 12, 2021.

What is the symbol for NexImmune on the stock market?

NexImmune will trade under the symbol NEXI on the Nasdaq Global Market.

When is the expected closing date for NexImmune's IPO?

The expected closing date for NexImmune's IPO is February 17, 2021.

Who are the underwriters for NexImmune's IPO?

The underwriters include Barclays Capital, Cantor Fitzgerald, Raymond James, and Allen & Company.