REDWOOD CITY, Calif. & BOSTON - Adicet Bio, Inc. (NASDAQ: ACET), a biotechnology firm focused on developing cell therapies for cancer and autoimmune diseases, has initiated a public offering of its common stock. The offering also includes pre-funded warrants to purchase common stock for certain investors, with the exercise price set at a nominal $0.0001 less than the public offering price per common share.
In conjunction with the offering, Adicet has proposed to give underwriters a 30-day option to buy an additional 15% of the shares at the public offering price, subtracting underwriting discounts and commissions. The company will be the sole seller of the securities in this offering. However, the completion, timing, and terms of the offering are subject to market conditions, and there is no certainty as to when or if the offering may be finalized.
Jefferies and Guggenheim Securities are the joint book-running managers for the offering, which is being made under a shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on May 9, 2022. A preliminary prospectus supplement detailing the offering terms will be filed with the SEC and made available on their website.
Adicet Bio is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors (CARs), which are intended to demonstrate sustainable effectiveness in patients.
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