Business
Context Therapeutics Inc. Announces $31.25 Million Private Placement
PHILADELPHIA, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Context Therapeutics Inc. (Nasdaq: CNTX) ("Context Therapeutics" or the "Company"), a women’s oncology company
About this update from Context Therapeutics Inc.
[{"type":"text","content":"PHILADELPHIA, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Context Therapeutics Inc. (Nasdaq: CNTX) (\"Context Therapeutics\" or the \"Company\"), a women’s oncology company developing small molecule and immunotherapy treatments to transform care for breast and gynecological cancers, today announced that it has entered into definitive securities purchase agreements for a private placement with accredited investors of 5,000,000 shares of common stock of Context Therapeutics together with warrants to purchase 5,000,000 shares of common stock (“Warrants”), which will result in gross proceeds to Context Therapeutics of approximately $31.25 million, before deducting placement offering expenses. Each share of common stock and accompanying Warrant are being sold together at a combined offering price of $6.25. The Warrants have a five and one-half year term and an exercise price of $6.25 per share. This private placement is expected to close on December 6, 2021, subject to customary closing conditions. The securities offered and sold by Context Therapeutics 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. Context Therapeutics 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 Context Therapeutics’ 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 when issued at the closing of the private placement, 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 an...