©Reuters.
MAIA Biotechnology, Inc. (MAIA) today announced pricing for an underwritten public offering of 2,222,200 common shares at a public offering price of $2.25 per share for gross proceeds of approximately $5 million, gross of subscription discounts and other listing costs. In addition, MAIA has granted the underwriters a 45-day option to purchase up to 333,300 additional common shares to cover over-allotments at the public offering price less the subscription discount.
The Company intends to use the net proceeds to fund ongoing THIO clinical trials, preclinical development of second generation telomere targeting compounds and other research and development activities, as well as for working capital and other general corporate purposes.
The offering is expected to close on April 27, 2023, subject to the satisfaction of customary closing conditions.
ThinkEquity is acting as sole bookrunner for the offering.
A registration statement on Form S-1 (File Number 333-269606) relating to the shares sold has been filed with the Securities and Exchange Commission (“SEC”) and is effective on April 24, 2023. This offer is only made by means of a prospectus. Copies of the final prospectus, where available, may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004, by phone at (877) 436-3673 or by email at [email protected]. The final prospectus will be filed with the SEC and is available on the SEC’s website at https://www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale prior to registration or qualification would be unlawful under the securities laws of any such state or jurisdiction.
About MAIA Biotechnology, Inc.
MAIA is a targeted therapy immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action designed to meaningfully improve and prolong the lives of people living with cancer. Its lead program is THIO, a potential first-in-class cancer telomere targeting compound in clinical development for the treatment of NSCLC patients with telomerase-positive cancer cells. For more information, please visit www.maiabiotech.com.
Forward-Looking Statements
MAIA cautions that all statements in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results, levels or levels of activity, performance or achievements of us or our industry to differ materially from those anticipated in such statements. The use of words such as “may”, “could”, “will”, “should”, “could”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “project”, ” intend”, “future”, “potential” or “continue” and other similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean that statements are not forward-looking. For example, any statements we make regarding (i) the initiation, timing, cost, progress and results of our pre-clinical and clinical studies and our research and development programs, (ii) our ability to advance product candidates into clinical development phase and successfully complete studies, (iii) the timing or likelihood of regulatory filings and approvals, (iv) our ability to develop, manufacture and commercialize our product candidates and improve the manufacturing process, (v) the rate and the level of market acceptance of our product candidates, (vi) the size and growth potential of the markets for our product candidates and our ability to serve those markets, and (vii) our expectations regarding our ability to obtain and maintain intellectual property protection for our product candidates forward looking. All forward-looking statements are based on management’s current estimates, assumptions and expectations which, while we believe to be reasonable, are inherently uncertain. Any forward-looking statement that expresses an expectation or belief regarding future events is made in good faith and is believed to be reasonable at the time of the issuance of such forward-looking statement. However, these statements are not guarantees of future events and are subject to risks and uncertainties and other factors beyond our control that could cause actual results to differ materially from those projected in the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. In this press release, “MAIA”, “company”, “we”, “our” and “us” refer to MAIA Biotechnology, Inc. and its subsidiaries unless the context otherwise requires.
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Source: MAIA Biotechnology, Inc.
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