Poseida Therapeutics Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

Poseida Therapeutics, a clinical-stage biopharmaceutical company (Nasdaq: PSTX), has announced an underwritten public offering of its common stock. The company plans to grant underwriters a 30-day option to purchase up to an additional 15% of the shares offered. The offering is subject to market conditions and other factors, with no guarantee on its completion or terms. Piper Sandler and William Blair are leading the offering, which follows a previously filed shelf registration statement with the SEC. All shares sold will be offered by Poseida.

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• None.

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• Potential dilution of shares due to the public offering.

SAN DIEGO, Aug. 4, 2022 /PRNewswire/ -- Poseida Therapeutics, Inc. (Nasdaq: PSTX), a clinical-stage biopharmaceutical company utilizing proprietary genetic engineering platform technologies to create cell and gene therapeutics with the capacity to cure, today announced that it has commenced an underwritten public offering of shares of its common stock. In addition, Poseida expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the offering. All of the shares to be sold in the offering are to be sold by Poseida. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

Piper Sandler and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering. Cantor Fitzgerald & Co. and BTIG, LLC are also acting as book running managers for the offering.

The proposed offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, previously filed and declared effective by the Securities and Exchange Commission (the "SEC"). The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the website of the SEC at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, by contacting Piper Sandler, Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email at prospectus@psc.com; or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by telephone at (800) 621-0687 or by email at prospectus@williamblair.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.

About Poseida Therapeutics, Inc.

Poseida Therapeutics is a clinical-stage biopharmaceutical company dedicated to utilizing our proprietary genetic engineering platform technologies to create next generation cell and gene therapeutics with the capacity to cure. We have discovered and are developing a broad portfolio of product candidates in a variety of indications based on our core proprietary platforms, including our non-viral piggyBac^® DNA Delivery System, Cas-CLOVER™ Site-specific Gene Editing System and nanoparticle- and AAV-based gene delivery technologies. Our core platform technologies have utility, either alone or in combination, across many cell and gene therapeutic modalities and enable us to engineer our portfolio of product candidates that are designed to overcome the primary limitations of current generation cell and gene therapeutics.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the timing, terms and completion of the proposed public offering. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Poseida's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with market conditions, the satisfaction of customary closing conditions related to the offering, and the other risks described in Poseida's filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Poseida undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

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SOURCE Poseida Therapeutics, Inc.

FAQ

What is the purpose of the public offering by Poseida Therapeutics (PSTX)?

Poseida Therapeutics aims to raise capital through an underwritten public offering of its common stock, the details of which will be outlined in a prospectus.

When was the public offering announced by Poseida Therapeutics (PSTX)?

The public offering was announced on August 4, 2022.

Who are the underwriters for Poseida Therapeutics' public offering?

Piper Sandler and William Blair are acting as joint book-running managers, with Cantor Fitzgerald & Co. and BTIG, LLC also participating.

What is the expected size of the share offering by Poseida Therapeutics (PSTX)?

The exact size of the offering has not been disclosed, but underwriters have a 30-day option to purchase an additional 15% of the shares.

How will the public offering impact shareholders of Poseida Therapeutics (PSTX)?

The public offering may lead to dilution of existing shareholders' equity, depending on the number of shares sold.