BioCardia (BCDA) Prices 4.762M Share Common Offering at $2.10/Sh

June 17, 2020 8:33 AM

BioCardia Inc. (NASDAQ: BCDA) today announced the pricing of its public offering of 4,762,000 shares of common stock at a price to the public of $2.10 per share. BioCardia expects to receive gross proceeds of $10 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

BioCardia has granted the underwriters a 45-day option to purchase up to 714,190 additional shares of common stock, at the public offering price to cover over-allotments, if any. The offering is expected to close on June 19, 2020, subject to customary closing conditions.

The Company intends to use the net proceeds from this offering for working capital and general corporate purposes, which include, but are not limited to, completing enrollment in the ongoing CardiAMP® Cell Therapy pivotal trial for the treatment of heart failure, funding of clinical development, and pursuing regulatory approval for our product candidates.

A.G.P./Alliance Global Partners is acting as sole book-running manager for the offering.

Brookline Capital Markets, a division of Arcadia Securities, LLC, and Dawson James Securities, Inc. are acting as co-managers for the offering.

The offering is being conducted pursuant to BioCardia’s registration statement on Form S-1 (File No. 333-236404) previously filed with the Securities and Exchange Commission (“SEC”) and declared effective on June 16, 2020. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. Electronic copies of the prospectus relating to this offering, when available, may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022 at (212) 813-1047.

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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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