PharmaCyte Biotech Announces Final Results of Tender Offer
15 Juin 2023 - 3:15PM
Business Wire
PharmaCyte Biotech, Inc. (Nasdaq: PMCB) (“PharmaCyte” or the
“Company”) today announces the final results of its previously
announced tender offer to acquire up to 7,750,000 million shares of
the Company’s common stock, par value $0.001 per share, at a price
of $3.25 per share in cash, less any applicable withholding taxes
and without interest. The tender offer expired one minute after
11:59 p.m. on June 9, 2023, and was funded entirely through the
Company’s cash on hand.
PharmaCyte CEO Josh Silverman commented, “Having completed the
tender offer, we believe we are in a stronger position to optimize
shareholder value. Our significant cash position of approximately
$74 million following the tender offer, combined with very limited
cash burn, allows us to continue to carefully evaluate potential
acquisition targets that would provide shareholder value while we
assess our current assets, which are intended to address a highly
unmet medical need in pancreatic cancer. We look forward to
providing additional updates as developments warrant.”
Based on the final count by American Stock Transfer & Trust
Company, LLC, the depositary for the tender offer (the
“Depositary”), 9,741,919 shares of PharmaCyte’s common stock were
validly tendered and not properly withdrawn at a purchase price of
$3.25 per share.
In accordance with the terms and conditions of the tender offer,
based on the final count, PharmaCyte has accepted for purchase
8,085,879 shares of common stock at a purchase price of $3.25 per
share, for an aggregate cost of $26,279,106.75, excluding fees, any
excise taxes and expenses relating to the tender offer. Included in
the 8,085,879 shares that the Company accepted for purchase are
335,879 shares that the Company elected to purchase pursuant to its
right to purchase up to an additional 2% of its outstanding shares.
The number of shares that PharmaCyte has accepted for purchase in
the tender offer represents approximately 48% of the total number
of shares of common stock outstanding as of April 30, 2023.
PharmaCyte had 8,708,101 shares of common stock outstanding
following payment for the shares of common stock purchased in the
tender offer.
The Depositary will promptly pay for all the shares of common
stock accepted for purchase in accordance with the terms and
conditions of the tender offer.
D.F. King & Co., Inc., is serving as the information agent
for the tender offer and American Stock Transfer & Trust
Company, LLC is serving as the Depositary. For all questions
relating to the tender offer, please contact the information agent,
D.F. King & Co., Inc., at pmcb@dfking.com or call toll-free at
(866) 342-1635.
About PharmaCyte Biotech
PharmaCyte is a biotechnology company that is currently
evaluating its signature live-cell encapsulation technology,
Cell-in-a-Box®, for potential development of cellular therapies for
cancer, diabetes, and malignant ascites, while also exploring the
opportunity for other strategic acquisitions.
The Cell-in-a Box technology involves encapsulating genetically
engineered human cells that can then be reintroduced to attack
disease. The Company is exploring possible utility in cancer
(particularly pancreatic), Type 1 and insulin-dependent Type 2
diabetes, and malignant ascites.
However, until the review by the Business Review Committee and
the Board is complete and the Board has determined the actions and
plans to be implemented, the Board has curtailed spending on the
foregoing programs.
Safe Harbor
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that express the current beliefs and expectations of PharmaCyte’s
management and Board of Directors. Any statements contained in this
press release which do not describe historical facts are
forward-looking statements subject to risks and uncertainties that
could cause actual results, performance, and achievements to differ
materially from those discussed in such forward-looking statements.
Factors that could affect our actual results include our ability to
satisfactorily address the issues raised by the FDA in order to
have the clinical hold on our IND removed, whether our exploration
of additional opportunities to create new paths toward shareholder
value is successful, as well as such other factors that are
included in the periodic reports on Form 10-K and Form 10-Q that we
file with the SEC. These forward-looking statements are made only
as of the date hereof, and we undertake no obligation to update or
revise the forward-looking statements, except as otherwise required
by law, whether as a result of new information, future events or
otherwise. More information about PharmaCyte Biotech can be found
at https://pharmacyte.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230615402568/en/
Investor Contact: CORE IR ir@pharmacyte.com
Media Contact: Jules Abraham CORE IR Telephone:
917.885.7378 Email: julesa@coreir.com
For more information about the tender offer, contact the
information agent: D.F. King & Co., Inc. 48 Wall Street,
22nd Floor New York, NY 10005 Banks and Brokers Call: (212)
269-5550 All Others Call Toll Free: (866) 342-1635
pmcb@dfking.com
PharmaCyte Biotech (NASDAQ:PMCB)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
PharmaCyte Biotech (NASDAQ:PMCB)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024