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Intensity Therapeutics, Inc. Announces Pricing of Upsized Initial Public Offering, Raising Approximately $19.5 Million in Gross Proceeds
WESTPORT, Conn., June 29, 2023 /PRNewswire/ -- Intensity Therapeutics, Inc. ("Intensity" or the "Company") (Nasdaq: INTS), a clinical-stage biotechnology
About this update from Intensity Therapeutics, Inc.
[{"type":"text","content":"WESTPORT, Conn., June 29, 2023 /PRNewswire/ -- Intensity Therapeutics, Inc. (\"Intensity\" or the \"Company\") (Nasdaq: INTS), a clinical-stage biotechnology company focused on the discovery and development of proprietary, novel immune-based intratumoral cancer therapies designed to kill tumors and increase immune system recognition of cancers, today announced the pricing of its upsized initial public offering of 3,900,000 shares of common stock at a public offering price of $5.00 per share. In addition, Intensity has granted the underwriters a 45-day option to purchase an additional 585,000 shares of its common stock at the initial public offering price, less the underwriting discounts and commissions.\nIn connection with the offering, the Company's common stock is expected to begin trading on The Nasdaq Capital Market on June 30, 2023, under the ticker symbol \"INTS\" subject to final approval by Nasdaq. The offering is expected to close on July 5, 2023, subject to the satisfaction of customary closing conditions.\nThe net proceeds to Intensity from the offering (prior to any exercise of the underwriter's over-allotment option), after deducting the underwriting discounts, commissions and transaction expenses, are expected to be approximately $16.2 million.\nThe Benchmark Company and Freedom Capital Markets are acting as the joint book-running managers for the offering.\nThe securities described above are being offered by the Company pursuant to a registration statement on Form S-1 (Registration No. 333-260565) that was previously filed with the U.S. Securities and Exchange (the \"SEC\") and declared effective on June 29, 2023. This offering is being made only by means of a prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the initial public offering can be obtained, when available, through the SEC's website at www.sec.gov or from: The Benchmark Company, LLC, Attention: Prospectus Department, 150 E. 58th Street, 17th floor, New York, NY 10155 at 212-312-6700 or by email at [email protected] and Freedom Capital Markets, 40 Wall Street, 58th Floor, New York, NY 10005, via email at [email protected] and via telephone at (800) 786-1469.\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall the...