PolarityTE (PTE) Prices Offering of Common Stock and Warrants

PolarityTE, Inc. (Nasdaq: PTE), a biotechnology company developing and commercializing regenerative tissue products and biomaterials, today announced the pricing of an underwritten public offering of approximately 10,638,298 shares of its common stock and warrants to purchase up to 10,638,298 shares of its common stock. Each share of common stock is being sold together with a warrant to purchase one share of common stock for a combined purchase price of $2.35 per share and warrant, for a gross offering size of $25.0 million, not including any future proceeds from the exercise of the warrants and before deducting the underwriting discounts and commissions and offering expenses. Each warrant will have an exercise price of $2.80 per share, will be exercisable immediately and will expire on the seven-year anniversary of the date of issuance. The shares of common stock and warrants can only be purchased together but will be issued separately and will be immediately separable upon issuance. The offering is expected to close on or about February 14, 2020, subject to satisfaction of customary closing conditions.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering. Oppenheimer & Co. Inc. is acting as lead manager for the offering.

PolarityTE intends to use the net proceeds from the offering for commercialization of SkinTE, research, development and manufacturing of its products and product candidates, efforts toward commercialization and required registration or approval of its products and product candidates with applicable regulatory authorities, and for other general corporate purposes, and may also use net proceeds to pursue strategic relationships that enhance its technology offerings through joint development or licensing arrangements or acquisitions, though the company does not currently have agreements or commitments with respect to any such arrangements or acquisitions.

You May Also Be Interested In

• Cantor Fitzgerald Starts Nuvation Bio Inc (NUVB) at Overweight
• Baiya International Group (BIYA) files $200M mixed shelf
• ESS Tech closes $3.2M stock offering at $0.50 per share