Date: 2014-12-23
Type of information: Private placement
Company: Pieris (Germany)
Investors:
Amount: $13.56 million
Funding type: private placement
Planned used: Proceeds from the private placement will be used primarily to advance Pieris\' proprietary Anticalin® product portfolio, including its anemia program (PRS-080), autoimmunity program (PRS-060) and immuno-oncology franchise (PRS-300), and for general corporate purposes.
Others: * On December 23, 2014, Pieris Pharmaceuticals, a biotechnology company advancing its proprietary Anticalin® biotherapeutic technologies, has completed its private placement with gross proceeds, together with the first tranche that closed on December 17, 2014, of $13.56 million for the total issuance and sale of approximately 6.8 million shares of its common stock at $2.00 per share. The placement agents on the financing were Northland Securities, Katalyst Securities and Trout Capital. Pieris has completed a private placement offering following the completion of the share exchange transaction, pursuant to which Pieris AG became a wholly-owned subsidiary of the Company. In connection with the private placement, the Company issued warrants to acquire a combined total of up to approximately 542,361 shares of its common stock at an exercise price of $2.00 per share to Northland, Katalyst, Trout and their designees. The warrants are exercisable at any time at the option of the holder until the five-year anniversary of their date of issuance. In connection with the private placement, Pieris has agreed, subject to certain terms and conditions, to file a registration statement under the Securities Act of 1933, as amended, covering the resale of the shares of common stock issued in the share exchange, the private placement, and in connection with the exercise of the placement agent warrants, within 90 days after the closing. The shares of common stock issued or to be issued pursuant to the private placement and the placement agent warrants have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from the registration requirements. * On December 18, 2014, Pieris Pharmaceuticals announced its successful completion of a share exchange transaction with Pieris AG, a German stock corporation pursuant to which Pieris AG became a wholly-owned subsidiary of the Company. The combined entity is named Pieris Pharmaceuticals, Inc. and will focus solely on the business of Pieris AG, a clinical-stage biopharmaceutical company dedicated to the discovery and development of its proprietary Anticalin® class of biotherapeutics. The share exchange transaction was effected on December 17, 2014, and beginning on December 18, 2014, Pieris will trade under the symbol \"PIRS\" on the OTC Markets. Pieris also announced that it has consummated a private placement with gross proceeds of $12.23 million for the issuance and sale of approximately 5.9 million shares of its common stock at $2.00 per share. Proceeds from the private placement will be used primarily to advance Pieris\' proprietary Anticalin® product portfolio, including its anemia program (PRS-080), autoimmunity program (PRS-060) and immuno-oncology franchise (PRS-300), and for general corporate purposes.
Therapeutic area:
