Benzinga | Feb 10, 2021 07:53AM EST

Adicet Bio Prices 9,230,770 Share Common Stock Offering At $13/Share; In Connection With Offering, Co. Enters Stock Purchase Agreement With Existing Investors For $15M

MENLO PARK, Calif. and BOSTON, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. ("Adicet") (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the pricing of an underwritten public offering of 9,230,770 shares of its common stock at a public offering price of $13.00 per share. Adicet also granted the underwriters a 30-day option to purchase up to an additional 1,344,743 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $120.0 million, excluding any exercise of the underwriters' option to purchase additional shares. All of the shares in the offering are to be sold by Adicet. The offering is expected to close on or about February 12, 2021, subject to customary closing conditions.



In connection with the offering, Adicet intends to enter into a stock purchase agreement with certain existing investors for $15.0 million of shares of its common stock at a price per share equal to the public offering price, with an initial closing for certain investors to be held simultaneous with the closing of the offering and a subsequent closing for certain additional investors.

The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The consummation of the private placement will be contingent upon the closing of the offering.