Rhea-AI Impact
Rhea-AI Sentiment
Rhea-AI Summary
BriaCell Therapeutics (Nasdaq: BCTX) has announced the pricing of a best-efforts public offering of 762,500 common shares at $4.00 per share, aiming to raise gross proceeds of $3.05 million. The offering is expected to close on February 5, 2025, subject to customary closing conditions.
The company plans to use the net proceeds for working capital requirements, general corporate purposes, and advancing business objectives. ThinkEquity is serving as the sole placement agent for the offering, which is being conducted under a shelf registration statement on Form S-3 filed with the SEC on January 22, 2024, and declared effective on January 31, 2024.
The transaction is proceeding under the TSX Company Manual Section 602.1 exemption for eligible interlisted issuers on recognized exchanges like Nasdaq.
BriaCell Therapeutics (Nasdaq: BCTX) ha annunciato il prezzo di un’offerta pubblica a migliori sforzi di 762.500 azioni ordinarie a $4,00 per azione, con l’obiettivo di raccogliere un’importo lordo di $3,05 milioni. Si prevede che l’offerta si concluda il 5 febbraio 2025, soggetta a condizioni di chiusura consuete.
L’azienda prevede di utilizzare il ricavato netto per le esigenze di capitale circolante, fini aziendali generali e per promuovere obiettivi commerciali. ThinkEquity funge da unico agente di collocamento per l’offerta, che viene condotta sotto un modulo di registrazione a scaffale S-3 presentato alla SEC il 22 gennaio 2024, e dichiarato efficace il 31 gennaio 2024.
La transazione avviene ai sensi dell’esenzione della Sezione 602.1 del Manuale delle Società TSX per gli emittenti idonei quotati su borse riconosciute come il Nasdaq.
BriaCell Therapeutics (Nasdaq: BCTX) ha anunciado el precio de una oferta pública de mejores esfuerzos de 762,500 acciones ordinarias a $4.00 por acción, con el objetivo de recaudar un importe bruto de $3.05 millones. Se espera que la oferta cierre el 5 de febrero de 2025, sujeta a las condiciones de cierre habituales.
La empresa planea utilizar los ingresos netos para requisitos de capital de trabajo, fines corporativos generales y para avanzar en los objetivos comerciales. ThinkEquity está actuando como el único agente de colocación para la oferta, que se lleva a cabo bajo una declaración de registro de estante en el Formulario S-3 presentada ante la SEC el 22 de enero de 2024, y declarada efectiva el 31 de enero de 2024.
La transacción se está llevando a cabo bajo la exención de la Sección 602.1 del Manual de la TSX para emisores interlistados elegibles en bolsas reconocidas como el Nasdaq.
BriaCell Therapeutics (Nasdaq: BCTX)는 762,500주의 보통주를 주당 $4.00에 공모한다고 발표했으며, 총 $3.05백만달러의 모집 자금을 목표로 하고 있습니다. 이 모집은 2025년 2월 5일에 마감될 예정이며, 관례적인 마감 조건을 충족해야 합니다.
회사는 순이익을 운영 자금 요구 사항, 일반 기업 목적 및 사업 목표의 달성을 위해 사용할 계획입니다. ThinkEquity는 이번 공모의 단독 배치 에이전트로 활동하고 있으며, 이는 2024년 1월 22일 SEC에 제출된 S-3형 등록 스테이트먼트에 따라 진행되고 있으며, 2024년 1월 31일에 효력이 발생하였습니다.
이번 거래는 Nasdaq과 같은 인정된 거래소에 상장된 적격 상장사의 TSX 회사 매뉴얼 섹션 602.1 면제에 따라 진행되고 있습니다.
BriaCell Therapeutics (Nasdaq: BCTX) a annoncé le prix d’une offre publique à meilleurs efforts de 762 500 actions ordinaires à 4,00 $ par action, visant à lever un produit brut de 3,05 millions de dollars. L’offre devrait se clore le 5 février 2025, sous réserve des conditions de clôture habituelles.
L’entreprise prévoit d’utiliser les produits nets pour les besoins en fonds de roulement, les fins corporatives générales et pour faire progresser les objectifs commerciaux. ThinkEquity agit en tant qu’agent de placement exclusif pour l’offre, qui est menée sous une déclaration d’enregistrement de type étagère sur le formulaire S-3 déposé auprès de la SEC le 22 janvier 2024, et déclarée effective le 31 janvier 2024.
La transaction se déroule dans le cadre de l’exemption de la section 602.1 du Manuel de la TSX pour les émetteurs interlistés éligibles sur des bourses reconnues comme le Nasdaq.
BriaCell Therapeutics (Nasdaq: BCTX) hat den Preis für ein Angebot von 762.500 Stammaktien zu $4,00 pro Aktie bekannt gegeben, mit dem Ziel, einen Bruttoertrag von $3,05 Millionen zu erzielen. Das Angebot soll am 5. Februar 2025 abgeschlossen werden, vorbehaltlich üblicher Abschlussbedingungen.
Das Unternehmen plant, die Nettomittel für Betriebskapitalbedarfe, allgemeine Unternehmenszwecke und zur Förderung geschäftlicher Ziele zu verwenden. ThinkEquity fungiert als alleiniger Platzierungsagent für das Angebot, das unter einerShelf-Registrierungsantrag auf Form S-3 durchgeführt wird, der am 22. Januar 2024 bei der SEC eingereicht und am 31. Januar 2024 wirksam wurde.
Die Transaktion erfolgt gemäß der Ausnahme gemäß Abschnitt 602.1 des TSX Company Manual für berechtigte interlistete Emittenten an anerkannten Börsen wie Nasdaq.
Positive
- Secured $3.05 million in gross proceeds through public offering
- Successfully priced offering at $4.00 per share
- Strengthening working capital position
Negative
- Dilution of existing shareholders through issuance of 762,500 new shares
- Share price set at relatively low level of $4.00
Insights
BriaCell’s latest financing move raises several concerns for investors. The $4.00 per share offering price represents a substantial discount to current market levels, signaling potential weakness in institutional demand. The relatively small size of the offering ($3.05 million) suggests this is primarily a bridge financing rather than a transformative capital raise.
The dilution impact is noteworthy – the 762,500 new shares represent approximately 22.5% of the company’s current market cap, a significant expansion of the share base that could pressure stock performance in the near term. The timing and terms of this financing may indicate urgent capital needs, as biotechnology companies typically aim to raise capital from a position of strength rather than necessity.
For context, this type of discounted offering is common among small-cap biotech firms, but the substantial discount and relatively modest size raise questions about the company’s negotiating position and institutional investor confidence. The use of a best-efforts placement (versus a firm commitment) further suggests challenging market conditions for the raise.
The vague description of intended use of proceeds for “working capital requirements” and “general corporate purposes” provides visibility into specific operational priorities or strategic initiatives. Investors should monitor cash burn rate and pipeline development timelines to better assess whether this capital injection will provide adequate runway for meaningful clinical progress.
PHILADELPHIA and VANCOUVER, British Columbia, Feb. 03, 2025 (GLOBE NEWSWIRE) — BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXW) (TSX: BCT) (“BriaCell” or the “Company”), a clinical-stage biotechnology company that develops novel immunotherapies to transform cancer care, today announced the pricing of a best-efforts public offering of 762,500 common shares at a public offering price of $4.00 per share. Total gross proceeds from the offering, before deducting placement agent fees and other offering expenses, are expected to be $3.05 million. The offering is expected to close on February 5, 2025, subject to satisfaction of customary closing conditions. The Company is relying upon the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq.
The Company intends to use the net proceeds from the offering for working capital requirements, general corporate purposes, and the advancement of business objectives.
ThinkEquity is acting as the sole placement agent for the offering.
The securities described above are being offered and sold by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-276650), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 22, 2024 and declared effective on January 31, 2024. The offering is being made only by means of a written prospectus. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and can be accessed for free on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About BriaCell Therapeutics Corp.
BriaCell is a clinical-stage biotechnology company that develops novel immunotherapies to transform cancer care. More information is available at https://briacell.com/.
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements including those about the closing of the offering and the use of proceeds from the offering, are based on BriaCell’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully under the heading “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, and under “Risks and Uncertainties” in the Company’s other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under the Company’s profiles on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. There can be no assurance that BriaCell will be able to complete the offering on the anticipated terms, or at all. Forward-looking statements contained in this announcement are made as of this date, and BriaCell Therapeutics Corp. undertakes no duty to update such information except as required under applicable law.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
Company Contact:
William V. Williams, MD
President & CEO
1-888-485-6340
info@briacell.com
Media Relations:
Jules Abraham
CORE IR
julesa@coreir.com
Investor Relations Contact:
CORE IR
investors@briacell.com
FAQ
How much money is BCTX raising in its February 2025 public offering?
BriaCell Therapeutics is raising $3.05 million in gross proceeds through a public offering of 762,500 common shares priced at $4.00 per share.
When will BCTX’s February 2025 public offering close?
The public offering is expected to close on February 5, 2025, subject to customary closing conditions.
How will BCTX use the proceeds from its February 2025 offering?
BriaCell plans to use the net proceeds for working capital requirements, general corporate purposes, and advancing business objectives.
What is the price per share for BCTX’s February 2025 public offering?
The public offering is priced at $4.00 per common share.
How many new shares is BCTX issuing in its February 2025 offering?
BriaCell is issuing 762,500 new common shares in this public offering.
