Enochian Biosciences (ENOB) Announces $29 Million Registered Direct Offering of Common Stock

June 14, 2021 2:54 PM EDT

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Enochian BioSciences, Inc., (NASDAQ: ENOB) a company focused on gene-modified cellular and immune therapies in infectious diseases and cancer, today announced that it has entered into a definitive securities purchase agreement with several institutional investors for the issuance and sale of an aggregate of 3,866,667 shares of its common stock at a purchase price of $7.50 per share of common stock a registered direct offering priced at-the-market under Nasdaq rules. The registered direct offering is expected to close on or about June 16, 2021, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds from the offering are expected to be approximately $29 million before deducting placement agent fees and other offering expenses. Enochian currently intends to use the net proceeds from the offering for working capital and general corporate purposes.

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