Benzinga | Mar 22, 2021 08:33AM EDT

Atossa Therapeutics Announces Pricing Of $50M Registered Direct Offering Priced At-The-Market

Atossa Therapeutics, Inc. (NASDAQ:ATOS) (the "Company" or "Atossa"), a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need in oncology and infectious diseases with a current focus on breast cancer and COVID-19, announced today that it has entered into a securities purchase agreement with institutional investors to purchase $50.0 million of its shares of common stock and warrants in a registered direct offering priced at-the-market under Nasdaq rules. The combined purchase price for one share of common stock and .75 warrants to purchase one share of common stock is $2.88.



Under the terms of the securities purchase agreement, the Company has agreed to sell 17,361,100 shares of the Company's common stock and issue unregistered warrants to purchase up to an additional 13,020,825 shares of common stock in a concurrent private placement. The warrants have an exercise price of $2.88 per share, are exercisable immediately and will expire four and a half years following the date of issuance.

Maxim Group LLC is acting as the sole placement agent in connection with the offering.

The gross proceeds to the Company from the registered direct offering are estimated to be approximately $50.0 million before deducting the placement agent's fees and other estimated offering expenses. The offering is expected to close on or about March 24, 2021, subject to the satisfaction of customary closing conditions.

The shares of common stock described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-248555), which was declared effective by the United States Securities and Exchange Commission ("SEC") on September 10, 2020. The offering of the shares of common stock will be made only by means of a prospectus supplement that forms a part of the registration statement. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Maxim Group LLC, 405 Lexington Avenue, New York, NY 10174, Attention: Syndicate Department, or via email at syndicate@maximgrp.com or telephone at (212) 895-3745.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.