HAYWARD, Calif., Sept. 12, 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, at present introduced the pricing of its underwritten public providing of 29,809,471 shares of its frequent inventory (or pre-funded warrants to buy frequent inventory in lieu thereof) and accompanying warrants to buy as much as 29,809,471 shares of frequent inventory. Each share of frequent inventory (or pre-funded warrant in lieu thereof) is being bought along with one frequent warrant to buy one share of frequent inventory at a mixed providing value of $0.60. The warrants can be exercisable commencing on the efficient date of a rise in our licensed shares of frequent inventory at an train value of $0.66 per share of frequent inventory and can expire on the fifth anniversary of such preliminary train date. The providing is predicted to shut on September 15, 2022, topic to customary closing situations.
The combination gross proceeds to Benitec from the general public providing are anticipated to be 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 scientific improvement of BB-301, together with the pure historical past lead-in research and the Phase 1b/2a BB-301 remedy research, for the continued development of improvement actions for different current and new product candidates, for basic company functions and for strategic development alternatives.
JMP Securities, A Citizens Company, is performing as sole book-running supervisor for the providing.
The Securities and Exchange Commission (“SEC”) declared efficient registration statements on Form S-1 relating to those securities (apart from the shares of frequent inventory issuable upon train of the frequent warrants) on September 12, 2022. A last prospectus referring to this providing can be filed with the SEC. The providing is being made solely by means of a prospectus. Copies of the prospectus referring to the providing could also be obtained, when obtainable, from JMP Securities LLC, 600 Montgomery Street, tenth Floor, San Francisco, CA 94111, Attention: Prospectus Department, or by calling (415) 835-8985, or by e mail at [email protected]. Investors may receive these paperwork for gratis by visiting the SEC’s web site at http://www.sec.gov.
Before you make investments, you must learn the prospectus and different paperwork the Company has filed or will file with the SEC for extra full details about the Company and the providing.
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, referred to 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 power and life-threatening human situations together with Oculopharyngeal Muscular Dystrophy (OPMD). A complete overview of the Company might be discovered on Benitec’s web site at www.benitec.com.
Cautionary Note Concerning Forward-Looking Statements
This press launch accommodates “forward-looking statements” throughout the that means of the Private Securities Litigation Reform Act of 1995, together with with respect to the proposed providing. No assurance might be on condition that the providing mentioned above can be accomplished on the phrases described, or in any respect, or that the proceeds of the providing can be used as indicated. Factors that might trigger precise outcomes to vary materially embody, however will not be restricted to, the danger components described in Benitec’s filings with the SEC. Benitec’s filings might 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 endeavor 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 is predicated.
Investor Relations Contacts:
William Windham
VP, Solebury Strategic Communications
Phone: 646-378-2946
Email: [email protected]
