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Xenetic Biosciences, Inc. Announces Closing of $6.0 Million Registered Direct Offering Priced At-The-Market under Nasdaq Rules
FRAMINGHAM, MA / ACCESSWIRE / December 14, 2020 / Xenetic Biosciences, Inc. (NASDAQ:XBIO) ("Xenetic" or the "Company"), a biopharmaceutical company focused on
About this update from Xenetic Biosciences, Inc.
[{"type":"text","content":"FRAMINGHAM, MA / ACCESSWIRE / December 14, 2020 / Xenetic Biosciences, Inc. (NASDAQ:XBIO) (\"Xenetic\" or the \"Company\"), a biopharmaceutical company focused on advancing XCART™, a personalized CAR T platform technology engineered to target patient- and tumor-specific neoantigens, announced today the closing of its previously announced registered direct offering with several institutional and accredited investors for 2,448,980 shares of the Company's common stock at a purchase price of $2.45 per share, priced at-the-market under Nasdaq rules. The gross proceeds to the Company totaled approximately $6.0 million before deducting placement agent fees and other related offering expenses payable by Xenetic.H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.The Company intends to use the net proceeds of this offering for general corporate purposes, working capital, and for the advancement of the XCART™ platform, the Company's differentiated, proprietary approach to personalized CAR T therapy in development for the treatment of multiple tumor types of B-cell Non-Hodgkin lymphomas.The shares described above were offered by Xenetic pursuant to a \"shelf\" registration statement on Form S-3 (File No. 333-227572) previously filed with the U.S. Securities and Exchange Commission (\"SEC\") on September 27, 2018 and declared effective by the SEC on October 12, 2018. Such shares may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the offering were filed with the SEC and will be available on the SEC's website at www.sec.gov. Alternatively, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at [email protected] or by phone at (646) 975-6996.This press release does not constitute an offer to sell any securities or a solicitation of an offer to buy any securities, nor shall there be any sale of any 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.About Xenetic Bioscience...