EL SEGUNDO, Calif.--(BUSINESS WIRE)--NantKwest, Inc. (Nasdaq: NK), a clinical-stage, natural killer cell-based therapeutics company, today announced the pricing of an underwritten public offering of an aggregate of 7,410,000 shares of its common stock (3,700,000 shares at a price to the public of $9.50 per share and 3,710,000 shares at a price of $12.12 per share to NantKwest’s chairman, chief executive officer and principal stockholder, Dr. Patrick Soon-Shiong). The aggregate gross proceeds from the offering are expected to be approximately $80.1 million, before deducting the underwriting discounts and commissions and offering expenses payable by NantKwest. NantKwest intends to use the net proceeds of the offering for clinical development, manufacturing, upgrades to its facilities and equipment, and for working capital, capital expenditures and other general corporate purposes. All of the shares are being offered by NantKwest. The offering is expected to close on or about June 29, 2020, subject to customary closing conditions. In addition, NantKwest has granted to the underwriters of the offering a 30-day option to purchase up to an additional 1,111,500 shares of common stock at the public offering price of $9.50 per share, less the underwriting discounts and commissions.
Piper Sandler & Co. is acting as the sole book-running manager for the offering. LifeSci Capital is acting as co-manager for the offering.
A shelf registration statement on Form S-3 relating to the common stock offered in the public offering described above was filed with the Securities and Exchange Commission (SEC) on August 23, 2019 and declared effective by the SEC on September 3, 2019. The offering is being made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering, when available, may also be obtained from Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, via telephone at (800) 747-3924 or via email at email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding NantKwest’s expectations with respect to the completion, timing and size of the public offering, the expected gross proceeds from the public offering, and the anticipated use of the net proceeds from the proposed offering. Risks and uncertainties related to these endeavors include, but are not limited to, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the public offering.
Forward-looking statements are based on management’s current expectations and are subject to various risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by such forward-looking statements. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements.
These and other risks regarding NantKwest’s business are described in detail in its SEC filings, including in NantKwest’s Current Report on Form 8-K filed on June 24, 2020. These forward-looking statements speak only as of the date hereof, and we disclaim any obligation to update these statements except as may be required by law.