SEATTLE, WA / ACCESSWIRE / September 16, 2024 / Aptevo Therapeutics Inc . (NASDAQ:), a clinical-stage biotechnology firm centered on growing novel immune-oncology therapeutics primarily based on its proprietary ADAPTIR™ and ADAPTIR-FLEX™ platform applied sciences, at the moment introduced that it has entered into securities buy agreements with sure healthcare-focused and institutional buyers to buy (i) 9,090,910 shares of its frequent inventory or pre-funded warrants in lieu thereof and (ii) warrants to buy as much as an combination of 18,181,820 shares of its frequent inventory (the “Common Warrants”) at a purchase order worth of $0.33 per share and related Widespread Warrant in a registered direct providing priced at-the-market underneath Nasdaq guidelines. Every share of frequent inventory is being supplied along with two Widespread Warrants, every to buy one share of frequent inventory. The Widespread Warrants can have an train worth of $0.33 per share, are exercisable upon stockholder approval, and can expire 5 years following the date stockholder approval.
The providing is anticipated to shut on or about September 18, 2024, topic to customary closing situations. Roth Capital Companions is performing as placement agent of the providing. Gross proceeds, earlier than deducting placement agent charges and commissions and providing bills, are anticipated to be roughly $3.0 million. The corporate intends to make use of the web proceeds from the providing for the continued medical improvement of its product candidates, working capital, and different common company functions.
The securities described above are being supplied pursuant to a registration assertion on Kind S-1 (File No. 333-281892), that was declared efficient by the U.S. Securities and Change Fee (“SEC”), on September 16, 2024. The providing is being made solely by the use of a prospectus. Copies of the accompanying prospectus referring to and describing the phrases of the providing could also be obtained, when obtainable, on the SEC’s web site at www.sec.gov or by contacting Roth Capital Companions, LLC, 888 San Clemente Drive, Suite 400, Newport Seashore, CA 92660 or by electronic mail at rothecm@roth.com. This press launch doesn’t and shall not represent a proposal to promote or the solicitation of a proposal to purchase any securities, nor shall there be any sale of those securities in any state or different jurisdiction during which such provide, solicitation or sale could be illegal previous to registration or qualification underneath the securities legal guidelines of any such state or different jurisdiction. Any provide, if in any respect, shall be made solely by the use of a prospectus, together with a prospectus complement, forming part of the efficient registration assertion.
The Firm additionally has agreed to amend sure current warrants that had been beforehand issued in July 2024, April 2024 and November 2023 to buy as much as 11,822,774 shares of the Firm’s frequent inventory and have train worth of $0.515 per share, efficient upon the closing of the providing, such current warrants can have a decreased train worth of $0.33 per share and shall grow to be exercisable upon stockholder approval.
About Aptevo Therapeutics Inc.
Aptevo Therapeutics Inc. is a clinical-stage biotechnology firm centered on growing novel immuno-oncology therapies for the therapy of most cancers. Aptevo is searching for to enhance therapy outcomes of most cancers sufferers. For extra info, please go to www.aptevotherapeutics.com.
Secure Harbor Assertion
This press launch consists of forward-looking statements inside the which means of the Personal Securities Litigation Reform Act of 1995. All statements, apart from statements of historic truth, together with, with out limitation, statements relating to the completion, timing, measurement and use of proceeds of the providing, the satisfaction of customary closing situations associated to the providing and another statements containing the phrases “may,” “continue to,” “believes,” “expects,” “optimism,” “potential,” “designed,” “promising,” “plans,” “will” and comparable expressions are meant to establish forward-looking statements. These forward-looking statements are primarily based on Aptevo’s present intentions, beliefs, and expectations relating to future occasions. Aptevo can’t assure that any forward-looking assertion shall be correct. Buyers ought to understand that if underlying assumptions show inaccurate or unknown dangers or uncertainties materialize, precise outcomes may differ materially from Aptevo’s expectations. Buyers are, subsequently, cautioned to not place undue reliance on any forward-looking assertion.
There are a number of essential elements that would trigger Aptevo’s precise outcomes to vary materially from these indicated by such forward-looking statements, together with a deterioration in Aptevo’s enterprise or prospects; uncertainties associated to market situations, the satisfaction of customary closing situations associated to the providing and adjustments in regulatory, social, macroeconomic, and political situations. As an illustration, precise outcomes might differ materially from these indicated by such forward-looking statements because of numerous essential elements, together with the uncertainties inherent within the outcomes of preliminary information and preclinical research being predictive of the outcomes of later-stage medical trials, initiation, enrollment and upkeep of sufferers, and the completion of medical trials, the supply and timing of information from ongoing medical trials, the trial design consists of mixture therapies which will make it troublesome to precisely confirm the advantages of APVO436, expectations for the timing and steps required within the regulatory evaluate course of, expectations for regulatory approvals, the impression of aggressive merchandise, our potential to enter into agreements with strategic companions or elevate funds on acceptable phrases or in any respect and different issues that would have an effect on the supply or business potential of Aptevo’s product candidates, enterprise or financial disruptions attributable to catastrophes or different occasions, together with pure disasters or public well being crises such because the coronavirus (known as COVID-19), geopolitical dangers, together with the present conflict between Russia and Ukraine, conflict between Israel and Hamas, and macroeconomic situations corresponding to financial uncertainty, rising inflation and rates of interest, elevated market volatility and decreased client confidence. These dangers usually are not exhaustive, Aptevo faces recognized and unknown dangers. Extra dangers and elements which will have an effect on outcomes are set forth in Aptevo’s filings with the Securities and Change Fee, together with its Annual Report on Kind 10-Ok for the fiscal yr ended December 31, 2023, and its subsequent reviews on Kind 10-Q and present reviews on Kind 8-Ok. The foregoing units forth many, however not all, of the elements that would trigger precise outcomes to vary from Aptevo’s expectations in any forward-looking assertion. Any forward-looking assertion speaks solely as of the date of this press launch, and, besides as required by regulation, Aptevo doesn’t assume any obligation to replace any forward-looking assertion to mirror new info, occasions, or circumstances.
CONTACT:
Miriam Weber Miller
Aptevo Therapeutics
Electronic mail: IR@apvo.com or Millerm@apvo.com
Cellphone: 206-859-6628
SOURCE: Aptevo Therapeutics
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