Heat Biologics Announces Common Stock Rights Offering

Heat Biologics (NASDAQ:HTBX) filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for an intended right offering to certain of the company’s existing security holders.
As quoted in the press release:

Under the proposed rights offering, Heat will distribute non-transferable subscription rights to purchase shares of common stock to its eligible stockholders and participating warrant holders as of the record date. Holders who exercise their subscription rights in full will be entitled to subscribe for additional shares that are not purchased by other shareholders. Heat has not yet announced the subscription price, record date or subscription period.
If the rights offering is fully subscribed, Heat expects gross proceeds to be $7 million. Heat intends to use the gross proceeds to fund its and its subsidiaries’ pre-clinical and clinical programs, and for working capital and general corporate purposes, including, to acquire, license, or invest in complementary businesses, technologies, product candidates or other intellectual property.

Click here to read the full press release.

Source: www.accesswire.com