PLYMOUTH
MEETING, Pa., Dec. 13,
2024 /PRNewswire/ -- INOVIO Pharmaceuticals, Inc.
(Nasdaq: INO), a biotechnology company focused on developing and
commercializing DNA medicines to help treat and protect people
from HPV-related diseases, cancer, and infectious
diseases, today announced the pricing of an underwritten public
offering of 10,000,000 shares of its common stock and accompanying
warrants to purchase 10,000,000 shares of its common stock at an
exercise price of $3.76 per share of
common stock, at a combined public offering price of $3.00 per share of common stock and accompanying
warrant. All of the securities in the offering are being sold by
INOVIO. The offering is expected to close on December 16, 2024, subject to the satisfaction of
customary closing conditions.
The gross proceeds from the offering, before deducting the
underwriting discounts and commissions and offering expenses
payable by INOVIO and assuming no exercise of the accompanying
warrants, are expected to be $30
million.
Oppenheimer & Co. Inc. and Citizens JMP are acting as joint
book-running managers for the offering. Stephens Inc. is acting as
lead manager for the offering.
A shelf registration statement relating to the shares of common
stock and accompanying warrants offered in the offering described
above was filed with the Securities and Exchange Commission (SEC)
on November 9, 2023 and declared
effective by the SEC on January 31,
2024. The offering is being made only by means of a written
prospectus and prospectus supplement that form a part of the
registration statement. A preliminary prospectus supplement and
accompanying prospectus relating to and describing the terms of the
offering were filed with the SEC and are available on the SEC's
website at www.sec.gov. Copies of the final prospectus supplement
and the accompanying prospectus, when available, may also be
obtained by contacting: Oppenheimer & Co. Inc., Attention:
Syndicate Prospectus Department, 85 Broad Street, 26th Floor,
New York, NY 10004, by telephone
at (212) 667-8055, or by email at EquityProspectus@opco.com;
or Citizens JMP Securities, LLC, 600 Montgomery Street, Suite 1100,
San Francisco, California 94111,
by telephone at (415) 835-8985, or by email
at syndicate@jmpsecurities.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities being offered, nor
shall there be any sale of the securities being offered 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 INOVIO
INOVIO is a biotechnology company focused on developing and
commercializing DNA medicines to help treat and protect people from
HPV-related diseases, cancer, and infectious diseases. INOVIO's
technology optimizes the design and delivery of innovative DNA
medicines that teach the body to manufacture its own
disease-fighting tools.
Forward-Looking Statements
This release contains or may imply "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are not based on historical fact
and include, but are not limited to, statements regarding the
public offering of INOVIO's securities, including the timing of the
closing of the offering, as well as the anticipated proceeds of the
offering. Any forward-looking statements are based on management's
current expectations of future events and are subject to a number
of risks and uncertainties that could cause actual results to
differ materially and adversely from those set forth in or implied
by such forward-looking statements. These risks and uncertainties
include, but are not limited to, risks and uncertainties related to
market conditions and satisfaction of customary closing conditions
related to the proposed public offering. For a discussion of other
risks and uncertainties, and other important factors, any of which
could cause our actual results to differ from those contained in
the forward-looking statements, see the section entitled "Risk
Factors" in INOVIO's Annual Report on Form 10-K for the year ended
December 31, 2023, INOVIO's Quarterly
Report on Form 10-Q for the quarter ended September 30, 2024 and in other filings that
INOVIO makes with the SEC from time to time. There can be no
assurance that any of the forward-looking information provided
herein will be proven accurate. These forward-looking statements
speak only as of the date hereof and INOVIO undertakes no
obligation to update forward-looking statements, and readers are
cautioned not to place undue reliance on such forward-looking
statements.
Contacts
Media: Jennie Willson (267)
429-8567 jennie.willson@inovio.com
Investors: Peter Vozzo, ICR
Healthcare, 443-213-0505 peter.vozzo@icrhealthcare.com
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SOURCE INOVIO Pharmaceuticals, Inc.