Benzinga | Jun 3, 2021 09:42AM EDT

BriaCell Therapeutics Announces $27.2M Private Placement

BriaCell Therapeutics Corp. (NASDAQ:BCTX, BCTXW)))))(TSXV:BCT) (the "Company" or "BriaCell"), a clinical-stage biotechnology company specializing in targeted immunotherapies for advanced breast cancer, today announced that it has entered into definitive securities purchase agreements with accredited investors, which will result in gross proceeds to BriaCell of approximately US$27.2 million, before deducting placement offering expenses. BriaCell will issue 5,170,343 units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock ("Warrant") (or units consisting of one pre-funded common stock purchase warrant ("Pre-Funded Warrant") and one Warrant, in lieu thereof). Each unit is being sold to the public at a price of US$5.26 (inclusive of the exercise price of the Pre-Funded Warrant, in the case of the units containing Pre-Funded Warrants). The Warrants have a five and one-half year term and an exercise price of US$6.19 per share. This private placement is expected to close on June 7, 2021, subject to customary closing conditions.



The securities offered and sold by BriaCell in the private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the "SEC") or an applicable exemption from such registration requirements. BriaCell has agreed to file a registration statement with the SEC covering the resale of the shares of common stock and shares underlying the Warrants to be issued in the private placement. Any resale of BriaCell's shares under such resale registration statement will be made only by means of a prospectus.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities will not be registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws.