Benitec Biopharma raises ~$30.9M gross in underwritten public offering; Series 2 warrants exercise price reset to $1.93

Benitec Biopharma Inc.

Offering included 875,949 common shares, 15.1M pre-funded warrants, 16.0M common warrants; net proceeds ~$28.3M.
Combined purchase price $1.93 per share/warrant unit; common warrants exercisable at $3.86 for 5 years.
Exercise price of 29.8M outstanding Series 2 warrants automatically reset from $11.22 to $1.93 due to offering.
Proceeds to support clinical development of BB-301 (Phase 1b/2a natural history and treatment studies) and other programs.

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

Benitec Biopharma Inc. entered into Underwriting Agreement with Citizens JMP Securities, LLC valued at approximately $28.3 million (effective 2023-08-08).

Action: entry
Agreement: underwriting
Counterparty: Citizens JMP Securities, LLC
Value: approximately $28.3 million
Effective: 2023-08-08

Exact text from the filing

On August 8, 2023, Benitec Biopharma Inc., a Delaware corporation (the “Company”), entered into an Underwriting Agreement (the “Underwriting Agreement”) with Citizens JMP Securities, LLC (the “Underwriter”)

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Benitec Biopharma Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-210679

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