Aptevo Therapeutics Inc. announced the closing of its previously announced registered direct offering, which successfully raised $8 million in gross proceeds. The offering included the sale of 2,465,000 shares of its common stock or pre-funded warrants in lieu thereof.
In conjunction with the common stock or pre-funded warrants, warrants to purchase up to an aggregate of 12,325,000 shares of common stock (Common Warrants) were also part of the offering. The purchase price was $3.25 per share and associated Common Warrants, with each share of common stock offered together with five Common Warrants.
This significant capital infusion is crucial for Aptevo, a clinical-stage biotechnology company, to fund its ongoing research and development activities. The proceeds will support the advancement of its novel immune-oncology therapeutics and extend its operational runway.
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