Adicet Bio prices $85.2M public offering of common stock and warrants at $2.40/share

Adicet Bio, Inc.

Offered 27,054,667 shares at $2.40 and 8,445,333 pre-funded warrants at $2.3999; gross proceeds ~$85.2M.
Net proceeds estimated ~$91.8M after underwriting discount and expenses; offering closes Jan 25.
Underwriters' option for additional 5,325,000 shares exercised in full on Jan 23.
As of Dec 31, 2023, preliminary cash and cash equivalents $159.7M.
ATM sales since Sep 30: 6.35M shares at avg $3.13 for net $19.3M.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Adicet Bio, Inc. entered into Underwriting Agreement with Jefferies LLC and Guggenheim Securities, LLC, as representatives of the several underwriters (effective 2024-01-22).

Action: entry
Agreement: underwriting
Counterparty: Jefferies LLC and Guggenheim Securities, LLC, as representatives of the several underwriters
Effective: 2024-01-22

Exact text from the filing

On January 22, 2024, Adicet Bio, Inc. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with Jefferies LLC and Guggenheim Securities, LLC, as representatives of the several underwriters listed on Schedule A thereto (the “Underwriters”), related to an underwritten public offering (the “Offering”) of 27,054,667 shares (the “Shares”) of common stock of the Company, par value $0.0001 per share (the “Common Stock”), and, in lieu of Common Stock to an investor, pre-funded warrants (the “Pre-Funded Warrants”) to purchase 8,445,333 shares of Common Stock (the “Warrant Shares”).

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Adicet Bio, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-007011

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