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UNITY Biotechnology (UBX) Prices Upsized 64.3M Share Offering at $0.70/sh

August 18, 2022 5:28 AM EDT

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UNITY Biotechnology, Inc. (Nasdaq: UBX) today announced the pricing of an upsized underwritten public offering of 64,285,714 shares of its common stock and accompanying warrants to purchase up to 64,285,714 shares of common stock at a combined public offering price of $0.70 per share and accompanying warrant. The warrants have an exercise price of $0.85 per share, are exercisable immediately, and will expire five years following the date of issuance. The gross proceeds to UNITY from the offering are expected to be approximately $45.0 million, before underwriting discounts and commissions and offering costs. All of the securities are being offered by UNITY. The offering is expected to close on August 22, 2022, subject to customary closing conditions.

UNITY intends to use the net proceeds from the offering to fund the ongoing clinical development of UBX1325, including the BEHOLD and ENVISION studies, and other general corporate purposes, including working capital, operating expenses and capital expenditures.

SVB Securities, Cantor and Mizuho Securities are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead manager for the offering.

The public offering is being made pursuant to a registration statement on Form S-3 previously filed with the Securities and Exchange Commission (“SEC”), which became effective on May 6, 2022. A prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to this offering, when available, may be obtained from: SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 4th Floor, New York, NY 10022, by email at [email protected]; or Mizuho Securities USA LLC, Attention: Equity Capital Markets, 1271 Avenue of the Americas, 3rd Floor, New York, NY 10020, by email at [email protected], or by telephone at (212) 205-7600.

This press release shall not constitute an offer to sell, or a 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.



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