BioCardia Announces $1.3 Million Registered Direct Offering of Common Stock Priced At-the-Market under Nasdaq Rules
16 Novembre 2023 - 6:56PM
BioCardia, Inc. [Nasdaq: BCDA] (the “Company”), a developer of
cellular and cell-derived therapeutics for the treatment of
cardiovascular and pulmonary diseases, today announced that it has
entered into a definitive agreement with a single
healthcare-focused institutional investor for the purchase and sale
of 2,000,000 shares of the Company’s common stock at a purchase
price of $0.65 per share of common stock in a registered direct
offering priced at-the-market under Nasdaq rules. The closing of
the offering is expected to occur on or about November 20,
2023, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering.
The gross proceeds to the Company from the offering
are expected to be $1.3 million, before deducting the placement
agent’s fees and other offering expenses payable by the Company.
The Company intends to use the net proceeds from the offering for
general corporate purposes, including, but not limited to,
advancing the Company’s investigational biotherapeutic candidates
and the Company’s biotherapeutic delivery partnering business.
The shares of common stock described above are
being offered by the Company pursuant to a “shelf” registration
statement on Form S-3 (File No. 333-249426) previously filed with
the Securities and Exchange Commission (the “SEC”) and declared
effective by the SEC on October 20, 2020. The offering of the
shares of common stock is made only by means of a prospectus,
including a prospectus supplement, forming a part of the effective
registration statement. A final prospectus supplement and
accompanying prospectus relating to the offering will be filed with
the SEC. Electronic copies of the final prospectus supplement and
accompanying prospectus may be obtained, when available, on the
SEC’s website at http://www.sec.gov or by contacting H.C.
Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York,
NY 10022, by phone at (212) 865-5711 or e-mail at
placements@hcwco.com.
This press release shall not constitute an offer to
sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About
BioCardia®
BioCardia, Inc., headquartered in Sunnyvale,
California, is developing cellular and cell-derived therapeutics
for the treatment of cardiovascular and pulmonary disease.
CardiAMP™ autologous and NK1R+ allogeneic cell therapies are the
Company’s biotherapeutic platforms that enable four product
candidates in development. BioCardia also partners with other
biotherapeutic companies to provide its delivery systems and
development support to their programs studying therapies for the
treatment of heart failure, chronic myocardial ischemia and acute
myocardial infarction. For more information visit:
www.BioCardia.com.
Forward Looking Statements:
This press release contains forward-looking
statements that are subject to many risks and uncertainties.
Forward-looking statements include, among other things, statements
relating to the Company’s offering of securities and the use of
proceeds from such offering. These forward-looking statements are
made as of the date of this press release.
We may use terms such as “believes,” “estimates,”
“anticipates,” “expects,” “plans,” “intends,” “may,” “could,”
“might,” “will,” “should,” “approximately” or other words that
convey the uncertainty of future events or outcomes to identify
these forward-looking statements. Although we believe that we have
a reasonable basis for each forward-looking statement contained
herein, we caution you that forward-looking statements are not
guarantees of future performance and that our actual results may
differ materially from the forward-looking statements contained in
this press release. Factors that could cause or contribute to such
differences include, but are not limited to, the Company’s
liquidity position and its ability to raise additional funds, the
Company’s ability to successfully advance its clinical trials as
well as changes in general economic and market conditions. As a
result of these factors, we cannot assure you that the
forward-looking statements in this press release will prove to be
accurate. Additional factors that could materially affect actual
results can be found in BioCardia’s Form 10-K filed with the
Securities and Exchange Commission on March 29, 2023, under the
caption titled “Risk Factors” and in its subsequently filed
Quarterly Reports on Form 10-Q. BioCardia expressly disclaims any
intent or obligation to update these forward-looking statements,
except as required by law.
Media Contact: Miranda Peto,
Marketing / Investor
RelationsEmail: mpeto@BioCardia.com Phone:
650-226-0120
Investor Contact: David McClung,
Chief Financial
OfficerEmail: investors@BioCardia.com Phone:
650-226-0120
BioCardia (NASDAQ:BCDA)
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