Celldex Therapeutics Announces Pricing of Public Offering of Common Stock

About this update from Celldex Therapeutics, Inc.

[{"type":"text","content":"HAMPTON, N.J., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Celldex Therapeutics, Inc. (“Celldex” or the “Company”) (Nasdaq: CLDX) today announced the pricing of an underwritten public offering of 7,425,000 shares of its common stock at a public offering price of $27.00 per share. In connection with the offering, Celldex has granted the underwriters a 30-day option to purchase up to an additional 1,113,750 shares of common stock at the public offering price, less underwriting discounts and commissions. Jefferies, Leerink Partners, Guggenheim Securities and Cantor are acting as the joint book-running managers for the offering. LifeSci Capital and H.C. Wainwright & Co. are acting as co-lead managers for the offering. The Company expects to receive gross proceeds from the offering, excluding the exercise of the underwriters’ option, if any, of approximately $200.5 million, excluding underwriting discounts and commissions and other offering-related expenses. Celldex intends to use the net proceeds from the offering to continue clinical and preclinical development of its product candidates, including current and future development of barzolvolimab, growing its bispecific antibody platform and clinical candidates, funding ongoing efforts to develop additional clinical pipeline products and for general corporate purposes. The offering is expected to close on or about November 10, 2023, subject to customary closing conditions. The securities described above are being offered pursuant to a prospectus supplement and an accompanying base prospectus forming part of a shelf registration statement on Form S-3 (File No. 333-275300), which was previously filed with the Securities and Exchange Commission (“SEC”) and became automatically effective on November 3, 2023. A final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. When available, copies of the final prospectus supplement and the accompanying base prospectus may be obtained for free by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by e-mail at [email protected]; or Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 8...

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