PLYMOUTH MEETING, PA — INOVIO Pharmaceuticals, Inc. (Nasdaq: INO) has announced plans to conduct an underwritten public offering of its common stock, or pre-funded warrants in lieu of common stock, accompanied by Series A and Series B warrants. The move aims to raise capital to support the company’s ongoing development efforts and operations.
All securities in the proposed offering will be sold directly by INOVIO. In addition, the company intends to grant the underwriter a 30-day option to purchase up to 15% additional shares and/or accompanying warrants under the same terms. The offering is subject to market conditions, and there is no guarantee regarding its completion, timing, or final size.
Piper Sandler & Co. is serving as the sole book-running manager for the offering.
The securities will be offered under a shelf registration statement initially filed with the U.S. Securities and Exchange Commission (SEC) on November 9, 2023, and declared effective on January 31, 2024. A preliminary prospectus supplement outlining the details of the offering will be filed with the SEC and made available to investors.
INOVIO emphasized that this announcement does not constitute an offer to sell or a solicitation of an offer to buy, nor will any sales be made in jurisdictions where such activities would be unlawful without appropriate registration or qualification.
The offering marks an important step for INOVIO as it seeks to strengthen its financial position while advancing its clinical and research programs. Investors and analysts will closely watch the outcome as the company continues to navigate a competitive biotechnology landscape.
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