Enlivex Therapeutics Closes $16.75 Million Registered Direct Offering
March 05 2020 - 8:15AM
Enlivex Therapeutics Ltd. (Nasdaq: ENLV), a clinical-stage
immunotherapy company, today announced the closing of its
previously announced registered direct offering to certain
accredited and healthcare-focused institutional investors,
including Armistice Capital, of an aggregate of 2,093,750 ordinary
shares of the Company and warrants to purchase up to an aggregate
of 2,093,750 ordinary shares at a combined purchase price of $8.00
per share and associated warrant, for aggregate gross proceeds of
$16.75 million.
H.C. Wainwright & Co. acted as the exclusive
placement agent for the offering.
The warrants have an exercise price of $9.00 per
ordinary share, an exercise period commencing immediately upon
issuance and a term of two years from the issuance date.
As part of the offering, the Company agreed to a
customary lock-up period of 75 days following the
offering.
The Company intends to use the net proceeds from
the offering for clinical, regulatory, manufacturing and research
and development activities, potential acquisitions and
in-licensing, as well as for working capital and other general
corporate purposes.
A shelf registration statement on Form F-3 (File
No. 333-232009) relating to the securities offered in the
registered direct offering described above was filed with the
Securities and Exchange Commission (the “SEC”) on June 7, 2019 and
declared effective by the SEC on June 21, 2019. The offering was
made only by means of the written prospectus and prospectus
supplement that form a part of such shelf registration statement. A
final prospectus supplement and the accompanying prospectus related
to the offering has been filed with the SEC and may be obtained for
free by visiting EDGAR on the SEC website at www.sec.gov.
Electronic copies of the final prospectus supplement and the
accompanying prospectus relating to the offering may also be
obtained by contacting H.C. Wainwright & Co., LLC, 430 Park
Avenue, 3rd Floor, New York, NY 10022, or by calling (646) 975-6996
or by emailing placements@hcwco.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy the securities
described herein or any other securities, nor shall there be any
sale of the securities described herein or any other 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 ENLIVEXEnlivex is a
clinical stage immunotherapy company, developing an allogeneic drug
pipeline for immune system rebalancing. Immune system rebalancing
is critical for the treatment of life-threatening immune and
inflammatory conditions which involve an out of control immune
system (e.g. Cytokine Release Syndrome) and for which there are no
approved treatments (unmet medical needs), as well as solid tumors
immune-checkpoint rebalancing. For more information, visit
http://www.enlivex.com.
Safe Harbor Statement: This press release
contains forward-looking statements, which may be identified by
words such as “expects,” “plans,” “projects,” “will,” “may,”
“anticipates,” “believes,” “should,” “would”, “intends,”
“estimates,” “suggests,” “has the potential to” and other words of
similar meaning, including statements regarding the anticipated use
of the proceeds of the registered direct offering, expected cash
balances, market opportunities for the results of current clinical
studies and preclinical experiments, the effectiveness of, and
market opportunities for, ALLOCETRATM programs, which are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that
forward-looking statements involve risks and uncertainties that may
affect Enlivex’s business and prospects, including the risks that
Enlivex may not succeed in generating any revenues or developing
any commercial products; that the products in development may fail,
may not achieve the expected results or effectiveness and/or may
not generate data that would support the approval or marketing of
these products for the indications being studied or for other
indications; that ongoing studies may not continue to show
substantial or any activity; market and other conditions; and other
risks and uncertainties that may cause results to differ materially
from those set forth in the forward-looking statements. The results
of clinical trials in humans may produce results that differ
significantly from the results of clinical and other trials in
animals. The results of early-stage trials may differ significantly
from the results of more developed, later-stage trials. The
development of any products using the ALLOCETRATM product line
could also be affected by a number of other factors, including
unexpected safety, efficacy or manufacturing issues, additional
time requirements for data analyses and decision making, the impact
of pharmaceutical industry regulation, the impact of competitive
products and pricing and the impact of patents and other
proprietary rights held by competitors and other third
parties. In addition to the risk factors described above,
investors should consider the economic, competitive, governmental,
technological and other factors discussed in Enlivex’s filings with
the Securities and Exchange Commission, including under the heading
“Risk Factors” contained in Enlivex’s most recently filed Annual
Report on Form 20-F, as amended. The forward-looking
statements contained in this press release speak only as of the
date the statements were made, and we do not undertake any
obligation to update forward-looking statements, except as required
under applicable law.
ENLIVEX CONTACT:Shachar Shlosberger, CFOEnlivex Therapeutics
Ltd.shachar@enlivex-pharm.com
Enlivex Therapeutics (NASDAQ:ENLV)
Historical Stock Chart
From Mar 2024 to Apr 2024
Enlivex Therapeutics (NASDAQ:ENLV)
Historical Stock Chart
From Apr 2023 to Apr 2024