SEATTLE, WA / ACCESSWIRE / September 16, 2024 / Aptevo Therapeutics Inc . (NASDAQ:), a clinical-stage biotechnology firm targeted on growing novel immune-oncology therapeutics based mostly on its proprietary ADAPTIR™ and ADAPTIR-FLEX™ platform applied sciences, as we speak 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 Frequent Warrant in a registered direct providing priced at-the-market beneath Nasdaq guidelines. Every share of frequent inventory is being supplied along with two Frequent Warrants, every to buy one share of frequent inventory. The Frequent Warrants could 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 predicted to shut on or about September 18, 2024, topic to customary closing circumstances. Roth Capital Companions is appearing 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 scientific growth 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 via a prospectus. Copies of the accompanying prospectus referring to and describing the phrases of the providing could also be obtained, when accessible, on the SEC’s web site at www.sec.gov or by contacting Roth Capital Companions, LLC, 888 San Clemente Drive, Suite 400, Newport Seaside, CA 92660 or by e-mail at rothecm@roth.com. This press launch doesn’t and shall not represent a suggestion to promote or the solicitation of a suggestion to purchase any securities, nor shall there be any sale of those securities in any state or different jurisdiction wherein such supply, solicitation or sale could be illegal previous to registration or qualification beneath the securities legal guidelines of any such state or different jurisdiction. Any supply, if in any respect, will probably be made solely via a prospectus, together with a prospectus complement, forming part of the efficient registration assertion.
The Firm additionally has agreed to amend sure present 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 present warrants could have a decreased train worth of $0.33 per share and shall change into exercisable upon stockholder approval.
About Aptevo Therapeutics Inc.
Aptevo Therapeutics Inc. is a clinical-stage biotechnology firm targeted on growing novel immuno-oncology therapies for the remedy of most cancers. Aptevo is in search of to enhance remedy outcomes of most cancers sufferers. For extra data, please go to www.aptevotherapeutics.com.
Secure Harbor Assertion
This press launch contains forward-looking statements throughout the that means of the Personal Securities Litigation Reform Act of 1995. All statements, aside from statements of historic reality, together with, with out limitation, statements concerning the completion, timing, measurement and use of proceeds of the providing, the satisfaction of customary closing circumstances associated to the providing and every other statements containing the phrases “may,” “continue to,” “believes,” “expects,” “optimism,” “potential,” “designed,” “promising,” “plans,” “will” and comparable expressions are meant to determine forward-looking statements. These forward-looking statements are based mostly on Aptevo’s present intentions, beliefs, and expectations concerning future occasions. Aptevo can not assure that any forward-looking assertion will probably be correct. Traders ought to understand that if underlying assumptions show inaccurate or unknown dangers or uncertainties materialize, precise outcomes might differ materially from Aptevo’s expectations. Traders are, due to this fact, 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 circumstances, the satisfaction of customary closing circumstances associated to the providing and adjustments in regulatory, social, macroeconomic, and political circumstances. As an illustration, precise outcomes might differ materially from these indicated by such forward-looking statements on account of numerous essential elements, together with the uncertainties inherent within the outcomes of preliminary knowledge and preclinical research being predictive of the outcomes of later-stage scientific trials, initiation, enrollment and upkeep of sufferers, and the completion of scientific trials, the provision and timing of information from ongoing scientific trials, the trial design contains mixture therapies which will make it tough to precisely verify the advantages of APVO436, expectations for the timing and steps required within the regulatory assessment course of, expectations for regulatory approvals, the influence of aggressive merchandise, our means to enter into agreements with strategic companions or increase funds on acceptable phrases or in any respect and different issues that would have an effect on the provision or business potential of Aptevo’s product candidates, enterprise or financial disruptions as a consequence of 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 warfare between Russia and Ukraine, warfare between Israel and Hamas, and macroeconomic circumstances comparable to financial uncertainty, rising inflation and rates of interest, elevated market volatility and decreased client confidence. These dangers will not be 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 12 months ended December 31, 2023, and its subsequent studies on Kind 10-Q and present studies 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 data, occasions, or circumstances.
CONTACT:
Miriam Weber Miller
Aptevo Therapeutics
E-mail: IR@apvo.com or Millerm@apvo.com
Telephone: 206-859-6628
SOURCE: Aptevo Therapeutics
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