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CytoMed Therapeutics Limited Announces Pricing of Initial Public Offering
SINGAPORE, April 13, 2023 /PRNewswire/ -- CytoMed Therapeutics Limited ("CytoMed" or the "Company"), a pre-clinical biopharmaceutical company focused on
About this update from Cytomed Therapeutics Limited
[{"type":"text","content":"SINGAPORE, April 13, 2023 /PRNewswire/ -- CytoMed Therapeutics Limited (\"CytoMed\" or the \"Company\"), a pre-clinical biopharmaceutical company focused on harnessing its licensed proprietary technologies to create novel cell-based immunotherapies for the treatment of human cancers, today announced the pricing of its initial public offering of its 2,412,369 ordinary shares at a price of US$4.00 per share, for gross proceeds of US$9,649,476.00 before deducting underwriting discounts, commissions and offering expenses. In addition, CytoMed has granted the underwriters a 45-day option to purchase up to an additional 361,855 ordinary shares solely to cover any over-allotments. The ordinary shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol \"GDTC\" on April 14, 2023, and the offering is expected to close on April 18, 2023, subject to customary closing conditions.\n\n \n \n \n \n \n \n\n \nThe net proceeds from the initial public offering will be used to advance the clinical development of the Company's CTM-N2D product candidate; to continue technology development of the Company's iPSC-gdNKT product candidate; to advance clinical development of the Company's CTM-GDT product candidate; and the remainder to fund R&D activities and manufacturing expansion, and for working capital and general corporate purposes.\nThe Benchmark Company, LLC is acting as the Bookrunning manager and Axiom Capital Management, Inc. is acting as a co-managing underwriter, in connection with the offering.\nThe Securities and Exchange Commission (the \"SEC\") declared effective a registration statement on Form F-1 relating to the shares on March 31, 2023. A final prospectus related to the offering will be filed and made available on the SEC's website at http://www.sec.gov. The offering is being made only by means of a prospectus. Electronic copies of the final prospectus may be obtained, when available, from The Benchmark Company, LLC, 150 E 58th Street, 17th floor, New York, NY 10155, or by telephone at (212) 312-6700, or by email at [email protected].\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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...