Aptevo Therapeutics Inc. announced the closing of its previously announced registered direct offering and concurrent private placement, raising $2.1 million in gross proceeds. The offering included the sale of 1,764,710 shares of the company's common stock.
In conjunction with the registered direct offering, warrants to purchase up to 3,529,420 shares of common stock were issued in a concurrent private placement. These warrants have an exercise price of $1.19 per share and will be exercisable upon receipt of stockholder approval, expiring five years from the date of such approval.
The combined purchase price for each share and accompanying warrant was $1.19. This capital infusion is essential for Aptevo to continue funding its clinical-stage programs and research initiatives, supporting its long-term development goals.
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