Business
Altimmune Announces Closing of $132 Million Public Offering of Common Stock and Pre-Funded Warrants and Full Exercise of Underwriters’ Option
GAITHERSBURG, Md., July 16, 2020 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a clinical-stage biopharmaceutical company, today announced that its
About this update from Altimmune, Inc.
[{"type":"text","content":"GAITHERSBURG, Md., July 16, 2020 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a clinical-stage biopharmaceutical company, today announced that its previously announced underwritten public offering of 4,119,564 shares of its common stock, and, to certain investors in lieu thereof, pre-funded warrants to purchase 1,630,436 shares of its common stock at an exercise price of $0.0001 per share. The shares include 750,000 shares of common stock sold pursuant to the option granted by the Company to the underwriters, which option was exercised in full. The public offering price of each share of common stock was $23.00 and the public offering price of each pre-funded warrant was $22.9999 per underlying share.\n The aggregate gross proceeds to Altimmune from the offering were approximately $132.2 million, which includes the exercise of the underwriters’ option to purchase additional shares in full, before deducting underwriting discounts and commissions and offering expenses payable by Altimmune. Altimmune anticipates using the net proceeds from the offering for general corporate purposes, which may include, but are not limited to, scale up of manufacturing and advanced clinical trials of AdCOVID, a single dose intranasal COVID-19 vaccine candidate; the continued development of ALT-801, its dual GLP-1/glucagon receptor agonist for the treatment of non-alcoholic steatohepatitis (NASH), including manufacturing and clinical trials; and for capital expenditures and working capital. Jefferies, Evercore ISI and Piper Sandler acted as joint book-running managers for the offering. Roth Capital Partners acted as co-manager for the offering. The securities described above were offered by Altimmune pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed with and became effective by rule of the Securities and Exchange Commission (SEC) on April 12, 2019. A final prospectus supplement and accompanying prospectus related to the offering has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Departments, 520 Madison Avenue, 2nd Floor, New York, NY 10022; by phone at (877)...