ALX Oncology prices $55M public offering of common stock and pre-funded warrants

ALX ONCOLOGY HOLDINGS INC

Priced public offering of 7,370,690 shares at $6.38/share and pre-funded warrants for 1,250,000 shares at $6.379/warrant.
Gross proceeds expected ~$55M before underwriting discounts; offering to close Oct 10, 2023.
Net proceeds to fund evorpacept clinical development including ASPEN-06 trial, working capital.
Underwriters granted 30-day option to purchase up to 1,293,103 additional shares.

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

ALX ONCOLOGY HOLDINGS INC entered into Underwriting Agreement with Piper Sandler & Co. and Cantor Fitzgerald & Co. valued at approximately $55.0 million (effective 2023-10-04).

Action: entry
Agreement: underwriting
Counterparty: Piper Sandler & Co. and Cantor Fitzgerald & Co.
Value: approximately $55.0 million
Effective: 2023-10-04

Exact text from the filing

On October 4, 2023, ALX Oncology Holdings Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Piper Sandler & Co. and Cantor Fitzgerald & Co., as representatives (the “Representatives”) of the several underwriters named therein (collectively, the “Underwriters”), relating to the issuance and sale (the “Offering”) of 7,370,690 shares of the Company’s common stock, par value $0.001 per share, at a price to the public of $6.38 per share (the “Underwritten Shares”) and pre-funded warrants (the “Pre-Funded Warrants”) to purchase 1,250,000 shares of the Company’s common stock at a price to the public of $6.379 per Pre-Funded Warrant.

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Source: SEC EDGAR

accession 0001193125-23-251917

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