The PIPE sold 861,708 unregistered shares at USD 4.03 each, or pre-funded warrants.
The company issued common warrants for 4,308,540 shares at USD 4.03. The PIPE pre-funded warrants are exercisable immediately. The common warrants require stockholder approval. Both sets expire five years from approval.
Proceeds and registration statement
Gross proceeds totaled about USD 4.5 million.
The company will file an SEC registration statement covering resale, including warrant shares.
Warrant inducement deal and warrant exercises
Aptevo closed a warrant inducement deal. Holders exercised existing warrants for 254,922 shares at USD 4.03 each.
The company issued unregistered inducement warrants for 1,274,610 shares with an exercise price of USD 4.03. They will be exercisable after stockholder approval and have a five-year term.
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