Aptevo Therapeutics Raises $4.5M via Warrant Exercise & PIPE
Aptevo Therapeutics Inc. raised approximately $4.5 million in gross proceeds through a combination of warrant inducement letters and a private placement. Existing warrant holders exercised up to 254,922 shares for cash at a reduced price of $4.03 per share, generating about $1.0 million. In consideration, the company issued new unregistered inducement warrants for up to 1,274,610 shares. Additionally, a private placement sold up to 861,708 unregistered shares (or pre-funded warrants) and common warrants for up to 4,308,540 shares, all at $4.03 per share. The net proceeds will be used for working capital and general corporate purposes.
Key Highlights
- Raised $4.5 million in gross proceeds from warrant exercise and private placement.
- Existing warrants for up to 254,922 shares exercised at reduced $4.03/share.
- Generated approximately $1.0 million from existing warrant exercises.
- Issued new inducement warrants for up to 1,274,610 shares at $4.03/share.
- Sold up to 861,708 unregistered shares in private placement at $4.03/share.
- Issued common warrants for up to 4,308,540 shares at $4.03/share.
- Net proceeds to be used for working capital and general corporate purposes.
- Roth Capital Partners acted as exclusive placement agent for the transactions.
Price Impact
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