ImmunityBio, Inc.
ImmunityBio Announces Pricing of Public Offering and Debt Restructuring
Summary
ImmunityBio, Inc. announced the pricing of its underwritten public offering of 33,333,334 shares of common stock at $3.00 per share, with an option for underwriters to purchase up to 5,000,000 additional shares. The offering is expected to close on December 12, 2024. Additionally, contingent on the closing of the offering, the company and Nant Capital restructured existing notes into a consolidated $505.0 million note due December 31, 2027. The company also amended its Revenue Interest Purchase Agreement with Oberland Capital Management LLC, Infinity SA LLC, and certain purchasers. The proceeds from the offering will be used for commercialization of ANKTIVA for treating BCG-unresponsive non-muscle invasive bladder cancer, funding trials, further research and development, working capital, and general corporate purposes.
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About ImmunityBio, Inc.
ImmunityBio, Inc. is a pioneering biotechnology company that focuses on developing innovative immunotherapies to treat cancer and other serious diseases. The company's primary function is to leverage the body's immune system to fight against various forms of cancer as well as infectious diseases through a robust pipeline of therapies. ImmunityBio's notable features include its expansive portfolio of next-generation therapies that incorporate cutting-edge technologies, such as the NANT Cancer Vaccine and Anktiva, which are designed to enhance the immune system's natural ability to identify and eradicate tumor cells. The company plays a critical role in the healthcare and biotechnology sectors, contributing to advancements in personalized medicine and potentially transformative treatments. Headquartered in California, ImmunityBio is strategically placed in the biotechnology hub of the United States, allowing it to effectively collaborate with key players in research and clinical development. Its work is significant in the market as it represents the ongoing shift towards immunotherapy as a front-line treatment for cancer, promising to impact patient outcomes and the future of cancer care.
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