HAYWARD, Calif., Sept. 16, 2022 (GLOBE NEWSWIRE) — Benitec Biopharma Inc. (Nasdaq: BNTC) (“Benitec” or “the Company”), a development-stage, gene therapy-focused, biotechnology firm creating novel genetic medicines based mostly on its proprietary DNA-directed RNA interference (“ddRNAi”) platform, immediately introduced it closed its beforehand introduced underwritten public providing of 29,809,471 shares of its widespread inventory (or pre-funded warrants to buy widespread inventory in lieu thereof) and accompanying warrants to buy as much as 29,809,471 shares of widespread inventory. Each share of widespread inventory (or pre-funded warrant in lieu thereof) was bought along with one widespread warrant to buy one share of widespread inventory at a mixed providing value of $0.60. The warrants will likely be exercisable commencing on the efficient date of a rise in our approved shares of widespread inventory at an train value of $0.66 per share of widespread inventory and can expire on the fifth anniversary of such preliminary train date.
The mixture gross proceeds to Benitec from the general public providing had been roughly $17.9 million previous to deducting underwriting reductions, commissions and different estimated providing bills. The Company intends to make use of the web proceeds from this financing for the medical growth of BB-301, together with the pure historical past lead-in examine and the Phase 1b/2a BB-301 therapy examine, for the continued development of growth actions for different present and new product candidates, for common company functions and for strategic development alternatives.
JMP Securities, A Citizens Company, acted as sole book-running supervisor for the providing.
The Securities and Exchange Commission (“SEC”) declared efficient a registration assertion on Form S-1 relating to those securities (aside from the shares of widespread inventory issuable upon train of the widespread warrants) on September 12, 2022. A closing prospectus regarding this providing was filed with the SEC. The providing was made solely by means of a prospectus. Copies of the prospectus regarding the providing could also be obtained from JMP Securities LLC, 600 Montgomery Street, tenth Floor, San Francisco, CA 94111, Attention: Prospectus Department, or by calling (415) 835-8985, or by electronic mail at [email protected]. Investors can also receive these paperwork without charge by visiting the SEC’s web site at http://www.sec.gov.
This press launch shall not represent a proposal to promote or the solicitation of a proposal to purchase, nor shall there be any sale of these securities in any state or jurisdiction wherein such provide, solicitation or sale could be illegal previous to registration or qualification underneath the securities legal guidelines of any such state or jurisdiction.
About Benitec Biopharma Inc.
Benitec Biopharma Inc. (“Benitec” or the “Company”) is a development-stage biotechnology firm centered on the development of novel genetic medicines with headquarters in Hayward, California. The proprietary platform, known as DNA-directed RNA interference, or ddRNAi, combines RNA interference, or RNAi, with gene remedy to create medicines that facilitate sustained silencing of disease-causing genes following a single administration. The Company is creating ddRNAi-based therapeutics for continual and life-threatening human situations together with Oculopharyngeal Muscular Dystrophy (OPMD). A complete overview of the Company will be discovered on Benitec’s web site at www.benitec.com.
Cautionary Note Concerning Forward-Looking Statements
This press launch accommodates “forward-looking statements” inside the that means of the Private Securities Litigation Reform Act of 1995, together with with respect to the providing. No assurance will be provided that the proceeds of the providing will likely be used as indicated. Factors that would trigger precise outcomes to vary materially embrace, however are usually not restricted to, the chance elements described in Benitec’s filings with the SEC. Benitec’s filings will be obtained free of cost on the SEC’s web site at www.sec.gov. Except to the extent required by legislation, Benitec expressly disclaims any obligations or enterprise to launch publicly any updates or revisions to any forward-looking statements contained herein to replicate any change in Benitec’s expectations with respect thereto or any change in occasions, situations or circumstances on which any assertion relies.
Investor Relations Contacts:
William Windham
VP, Solebury Strategic Communications
Phone: 646-378-2946
Email: [email protected]
