Ziopharm Oncology, Inc. (Nasdaq: ZIOP) today announced the pricing of an underwritten public offering of 27,826,086 shares of its common stock at a public offering price of $3.25 per share. Ziopharm has granted the underwriters a 30-day option to purchase up to an additional 4,173,912 shares of common stock at the public offering price, less the underwriting discounts and commissions. The gross proceeds to Ziopharm before deducting underwriting discounts and commissions and estimated offering expenses payable by Ziopharm, are expected to be approximately $90.4 million, excluding any exercise of the underwriters’ option to purchase additional shares.

All securities in the offering are being sold by Ziopharm.

Ziopharm intends to use the net proceeds from the offering, together with its current cash and cash equivalents, for progressing its clinical programs towards commercialization, working capital needs and other general corporate purposes.

Jefferies is acting as sole book-running manager for the offering. Cantor is acting as lead manager for the offering. H.C. Wainwright & Co., Laidlaw & Company (UK) Ltd. and Lake Street Capital Markets are acting as co-managers for the offering.

The offering is expected to close on or about February 7, 2020, subject to the satisfaction of customary closing conditions.