Date: 2017-05-15
Type of information: Private placement
Company: Mabvax Therapeutics (USA - CA)
Investors:
Amount: $4.1 million
Funding type: private placement
Planned used:
- The net proceeds from this offering will be used towards funding three Phase 1 clinical trials for Mabvax's antibody therapeutic, diagnostic, and radioimmunotherapy candidates; follow-on antibody development programs; and for working capital and general corporate purposes.
Others:
- • On May 15, 2017, MabVax Therapeutics announced the pricing of its public offering. The offering consists of 1,342,858 shares of its common stock and an aggregate of 1,000,000 shares of 0% Series G Convertible Preferred Stock at a public offering price of $1.75 per share of Common Stock and Series G Preferred Stock.
- The Series G Preferred Stock will be sold to certain existing investors in the offering who, as a result of their purchases of common stock, would hold in excess of 4.99% of our issued and outstanding Common Stock, and elect to receive shares of our Series G Preferred Stock and is initially convertible into 1,000,000 shares of Common Stock, subject to adjustment for stock splits, stock dividends, recapitalizations, combinations, subdivisions or other similar events. The Series G Preferred Stock will not be separately listed on any securities exchange or other trading market. Mabvax has granted the underwriters an option for a period of up to 45 days from the date of the Company's prospectus to purchase up to an aggregate of 201,428 additional shares of its common stock at the public offering price of $1.75 per share, less the underwriting discount, solely to cover overallotments. The offering is expected to close on May 19, 2017, subject to the satisfaction of customary closing conditions.
The total expected gross proceeds of the public offering are $4.1 million before the underwriter's discount and expenses.
Laidlaw & Company (UK) Ltd. is acting as the sole book-running manager for this offering.
Therapeutic area:
Is general: Yes
