- BriaCell Therapeutics (BCTX, Financial) announces a $13.8 million public offering.
- Each unit includes one common share and one warrant, priced at $4.50 per unit.
- Warrants, trading under 'BCTXZ', are exercisable at $5.25 per share for five years.
BriaCell Therapeutics Corp. (BCTX), a clinical-stage biotechnology company, has announced the pricing of a $13.8 million public offering. The offering consists of 3,066,666 units, which include 399,999 units from the complete exercise of the underwriter's option. Each unit is priced at $4.50, incorporating one common share (or a pre-funded warrant) and one warrant.
The warrants will trade under the symbol 'BCTXZ' on the Nasdaq Capital Market starting April 25, 2025. They are immediately exercisable at a price of $5.25 per share and will expire five years from the date of issuance. The offering is expected to close by April 28, 2025, pending customary closing conditions, with ThinkEquity serving as the sole book-running manager.
BriaCell plans to use the net proceeds from this offering for working capital requirements, general corporate purposes, and to advance its business objectives. This fundraising initiative is crucial for BriaCell as a clinical-stage biotech firm with no revenue, ensuring the continuation and development of its innovative immunotherapy programs.
