NantKwest Prices 3.7M Share Public Offering of Common Stock @$9.50/Share; 3.71M Shares @$12.12/Share to NantKwest Chairman, CEO Dr. Patrick Soon-Shiong
Benzinga · -
NantKwest, Inc. (NASDAQ: NK) announced the pricing of an underwritten public offering of an aggregate of 7,410,000 shares of its common stock (3,700,000 shares at a price to the public of $9.50 per share and 3,710,000 shares at a price of $12.12 per share to NantKwest's chairman, chief executive officer and principal stockholder, Dr. Patrick Soon-Shiong). The aggregate gross proceeds from the offering are expected to be approximately $80.1 million, before deducting the underwriting discounts and commissions and offering expenses payable by NantKwest. NantKwest intends to use the net proceeds of the offering for clinical development, manufacturing, upgrades to its facilities and equipment, and for working capital, capital expenditures and other general corporate purposes. All of the shares are being offered by NantKwest. The offering is expected to close on or about June 29, 2020, subject to customary closing conditions. In addition, NantKwest has granted to the underwriters of the offering a 30-day option to purchase up to an additional 1,111,500 shares of common stock at the public offering price of $9.50 per share, less the underwriting discounts and commissions. Piper Sandler & Co. is acting as the sole book-running manager for the offering. LifeSci Capital is acting as co-manager for the offering.