PLYMOUTH
MEETING, Pa., July 3, 2025
/PRNewswire/ -- INOVIO Pharmaceuticals, Inc. (Nasdaq: INO), a
biotechnology company focused on developing and commercializing DNA
medicines to help treat and protect people
from HPV-related diseases, cancer, and infectious
diseases, today announced the pricing of an underwritten public
offering of 14,285,715 shares of its common stock and accompanying
Series A warrants to purchase up to 14,285,715 shares of its common
stock (or pre-funded warrants in lieu thereof) at an exercise price
of $1.75 per share of common stock
and Series B warrants to purchase up to 14,285,715 shares of its
common stock (or pre-funded warrants in lieu thereof) at an
exercise price of $1.75 per share of
common stock, at a combined public offering price of $1.75 per share of common stock and
accompanying Series A and Series B warrants. All of the securities
in the offering are being sold by INOVIO. The offering is expected
to close on or about July 7, 2025,
subject to the satisfaction of customary closing conditions. INOVIO
also granted the underwriters an option for a period of 30 days to
purchase up to 2,142,857 additional shares of the Company's common
stock and Series A warrants to purchase up to 2,142,857 additional
shares of its common stock and Series B warrants to purchase up to
2,142,857 additional shares of its common stock at the public
offering price, less the underwriting discounts and
commissions.
The gross proceeds from the offering, before deducting the
underwriting discounts and commissions and offering expenses
payable by INOVIO, excluding any exercise of the underwriters'
option to purchase additional securities and assuming no exercise
of the accompanying Series A and Series B warrants, are expected to
be approximately $25 million.
Piper Sandler & Co. is acting
as sole active book-running manager for the offering. Oppenheimer
& Co. Inc. is also acting as a passive bookrunner for the
offering.
A shelf registration statement relating to the shares of common
stock and accompanying Series A and Series B warrants offered in
the offering described above was filed with the Securities and
Exchange Commission ("SEC") on November 9,
2023 and declared effective by the SEC on January 31, 2024. The offering is being made only
by means of a written prospectus and prospectus supplement that
form a part of the registration statement. A preliminary prospectus
supplement and accompanying prospectus relating to and describing
the terms of the offering were filed with the SEC and are available
on the SEC's website at www.sec.gov. Copies of the final prospectus
supplement and the accompanying prospectus, when available, may
also be obtained by contacting: Piper
Sandler & Co., Attention: Prospectus Department, 800
Nicollet Mall, J12S03, Minneapolis,
Minnesota 55402, or by telephone at (800) 747-3924, or by
e-mail at prospectus@psc.com and Oppenheimer & Co. Inc.,
Attention: Syndicate Prospectus Department, 85 Broad Street, 26th
Floor, New York, New York 10004,
or by telephone at (212) 667-8055, or by e-mail
at EquityProspectus@opco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities being offered, nor
shall there be any sale of the securities being offered 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 INOVIO
INOVIO is a biotechnology company focused on developing and
commercializing DNA medicines to help treat and protect people from
HPV-related diseases, cancer, and infectious diseases. INOVIO's
technology optimizes the design and delivery of innovative DNA
medicines that teach the body to manufacture its own
disease-fighting tools.
Forward-Looking Statements
This release contains or may imply "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are not based on historical fact
and include, but are not limited to, statements regarding the
public offering of INOVIO's securities, including the timing of the
closing of the offering, as well as the anticipated proceeds of the
offering. Any forward-looking statements are based on management's
current expectations of future events and are subject to a number
of risks and uncertainties that could cause actual results to
differ materially and adversely from those set forth in or implied
by such forward-looking statements. These risks and uncertainties
include, but are not limited to, risks and uncertainties related to
market conditions and satisfaction of customary closing conditions
related to the proposed public offering. For a discussion of other
risks and uncertainties, and other important factors, any of which
could cause our actual results to differ from those contained in
the forward-looking statements, see the section entitled "Risk
Factors" in INOVIO's Annual Report on Form 10-K for the year ended
December 31, 2024, INOVIO's Quarterly
Report on Form 10-Q for the quarter ended March 31, 2025 and in other filings that INOVIO
makes with the SEC from time to time. There can be no assurance
that any of the forward-looking information provided herein will be
proven accurate. These forward-looking statements speak only as of
the date hereof and INOVIO undertakes no obligation to update
forward-looking statements, and readers are cautioned not to place
undue reliance on such forward-looking statements.
Contacts
Media: Jennie Willson (267)
429-8567 jennie.willson@inovio.com
Investors: Peter Vozzo, ICR
Healthcare, 443-213-0505 peter.vozzo@icrhealthcare.com
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SOURCE INOVIO Pharmaceuticals, Inc.
