Matinas BioPharma Announces Pricing of Public Offering of Common Stock
Matinas BioPharma Holdings, Inc. (Matinas BioPharma or the Company) -- (NYSE AMER:MTNB), a clinical-stage biopharmaceutical company, today announced the pricing of its underwritten registered public offering of 27,272,727 shares of its common stock, offered at a price to the public of $1.10 per share for expected gross proceeds of $30.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses.
Matinas BioPharma Holdings, Inc. (“Matinas BioPharma” or the “Company”)
-- (NYSE AMER:MTNB), a clinical-stage biopharmaceutical company, today
announced the pricing of its underwritten registered public offering of
27,272,727 shares of its common stock, offered at a price to the public
of $1.10 per share for expected gross proceeds of $30.0 million, before
deducting underwriting discounts and commissions and other estimated
offering expenses. In addition, Matinas BioPharma has granted the
underwriters a 30-day option to purchase up to an additional 4,090,909
shares of its common stock on the same terms and conditions. All of the
shares in the offering are being sold by Matinas BioPharma. The offering
is expected to close on or about March 19, 2019, subject to customary
closing conditions.
BTIG, LLC is acting as sole book-running manager for the offering.
Matinas BioPharma anticipates using the net proceeds from the offering
primarily for ongoing development activities for its product candidates,
namely MAT9001, and its lipid nano-crystal (“LNC”) platform delivery
technology and for working capital and other general corporate purposes.
A shelf registration statement on Form S-3 relating to the public
offering of the shares of common stock described above was declared
effective by the Securities and Exchange Commission (the “SEC”) on April
12, 2017. A prospectus supplement and accompanying base prospectus
relating to and describing the terms of the offering has been filed with
the SEC and is available on the SEC’s website at www.sec.gov.
An electronic copy of the final prospectus supplement and accompanying
base prospectus relating to the offering, when filed, will be available
on the SEC’s website at www.sec.gov
and may also be obtained by contacting BTIG, LLC, at 825 Third Avenue,
6th Floor, New York, NY, 10022, or by telephone at (212) 593-7555 or by
e-mail at [email protected].
This 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 other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Matinas BioPharma
Matinas BioPharma is a clinical-stage biopharmaceutical company focused
on creating value through the streamlined development of MAT9001 for the
treatment of cardiovascular and metabolic conditions and the application
of its LNC platform technology to solve complex challenges relating to
the safe and effective delivery of small molecules, gene therapies,
proteins, peptides and vaccines.
Forward Looking Statements: This release contains
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements regarding
the completion, timing and size of its public offering and the
anticipated use of proceeds. All statements other than statements of
historical fact are statements that could be forward-looking statements.
Forward-looking statements include words such as “expects,”
“anticipates,” “intends,” “plans,” “could,” “believes,” “estimates” and
similar expressions. These statements involve known and unknown risks,
uncertainties and other factors which may cause actual results to be
materially different from any future results expressed or implied by the
forward-looking statements. Forward-looking statements are subject to a
number of risks and uncertainties, including, but not limited to, our
ability to obtain additional capital to meet our liquidity needs on
acceptable terms, or at all, including the additional capital which will
be necessary to complete the clinical trials of our product candidates;
our ability to successfully complete research and further development
and commercialization of our product candidates; the uncertainties
inherent in clinical testing; the timing, cost and uncertainty of
obtaining regulatory approvals; our ability to protect the Company’s
intellectual property; the loss of any executive officers or key
personnel or consultants; competition; changes in the regulatory
landscape or the imposition of regulations that affect the Company’s
products; and the other factors listed under “Risk Factors” in our
filings with the SEC, including Forms 10-K, 10-Q and 8-K. Investors are
cautioned not to place undue reliance on such forward-looking
statements, which speak only as of the date of this release. Except as
may be required by law, the Company does not undertake any obligation to
release publicly any revisions to such forward-looking statements to
reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.
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