Benzinga | Nov 10, 2020 05:20PM EST

Mei Pharma Entered Into At-the-market Equity Offering Sales Agreement With Stifel, Nicolaus & Company & Credit Suisse Securities

On November 10, 2020, MEI Pharma, Inc. (the "Company"), entered into an At-The-Market Equity Offering Sales Agreement (the "Sales Agreement") with Stifel, Nicolaus & Company, Incorporated and Credit Suisse Securities (USA) LLC, as sales agents, pursuant to which the Company may sell, from time to time, an aggregate of up to $60,000,000 of its common stock, par value $0.00000002 per share (the "Shares").

The Shares may be issued and sold from time to time through the sales agents pursuant to the Company's shelf Registration Statement on Form S-3 (Reg. No. 333-238056 ). The Company has filed a prospectus supplement, dated November 10, 2020, pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with respect to the Shares. Sales of the Shares, if any, under this prospectus supplement may be made in transactions that are deemed to be "at the market offerings" pursuant to Rule 415 under the Securities Act of 1933, as amended, including by means of ordinary brokers' transactions on the Nasdaq Capital Market at market prices, in block transactions, or as otherwise agreed upon by the applicable sales agent and us.

The Company will pay the applicable sales agent a commission of up to 3% of the gross sales price per share for any Shares sold through such sales agent under the Sales Agreement. We have provided the sales agents with customary indemnification and contribution rights.

The foregoing description is qualified in its entirety by reference to the Sales Agreement, a copy of which is included as Exhibit 1.1 hereto and is incorporated by reference herein.