Business
BioCardia Announces Pricing of Upsized $7.2 Million Public Offering Priced At-The-Market Under Nasdaq Rules
SUNNYVALE, Calif., Aug. 30, 2024 (GLOBE NEWSWIRE) -- BioCardia, Inc. [Nasdaq: BCDA], a global leader in cellular and cell-derived therapeutics for the
About this update from Biocardia, Inc.
[{"type":"text","content":"SUNNYVALE, Calif., Aug. 30, 2024 (GLOBE NEWSWIRE) -- BioCardia, Inc. [Nasdaq: BCDA], a global leader in cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary diseases, today announced the pricing of its upsized public offering with participation from management and directors, institutional investors, and certain existing investors of the Company for the purchase and sale of 2,400,000 shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 2,400,000 shares of common stock at a combined offering price of $3.00 per share and accompanying warrant, priced at-the-market under Nasdaq rules. The company expects to receive aggregate gross proceeds of $7.2 million, before deducting placement agent fees and other offering expenses. The warrants will have an exercise price of $3.00 per share, will be exercisable immediately and will expire five years from the issuance date. The closing of the offering is expected to occur on September 3, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes, which include, but are not limited to, advancing our investigational biotherapeutic candidates and our biotherapeutic delivery partnering business. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering. The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-281448) previously filed with the Securities and Exchange Commission (\"SEC\") which was declared effective on August 29, 2024, and an additional registration statement on Form S-1 filed pursuant to Rule 462(b), which was filed on August 29, 2024, and became effective upon filing. This offering is being made only by means of a prospectus forming part of the effective registration statements. Copies of the preliminary prospectus and, when available, copies of the final prospectus, relating to the offering may be obtained on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus relating to the offering may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospect...