Precision BioSciences Announces Common Stock Purchase by Members of Management for $300,000 in a Private Placement
08 May 2024 - 10:15PM
Business Wire
Precision BioSciences, Inc. (Nasdaq: DTIL) (the “Company”), an
advanced gene editing company utilizing its novel proprietary
ARCUS® platform to develop in vivo gene editing therapies for
sophisticated gene edits, including gene insertion, elimination,
and excision, today announced that it has entered into a definitive
subscription agreement, pursuant to which the Company will issue
and sell in a non-brokered private placement to members of its
senior leadership team, including the Chief Executive Officer,
25,000 shares of its common stock at a price of $12.00 per share,
representing a 13.5% premium to the closing price of its common
stock immediately preceding the signing of the subscription
agreement, for an aggregate amount of $300,000 (the “Private
Placement”). The Private Placement is expected to close on May 8,
2024, subject to the satisfaction of customary closing
conditions.
The Company intends to use the net proceeds from this offering
to support its ongoing research and development initiatives.
There is no placement agent for the Private Placement.
The offer and sale of the securities have not been, and will not
be, registered under the Securities Act of 1933, as amended, or any
other securities laws. The securities may not be offered or sold
except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and
any other applicable securities laws. This news release shall not
constitute an offer to sell or the solicitation of an offer to buy
the securities, nor shall there be any sale of these securities, in
any state or jurisdiction in which such offer, solicitation or sale
of these securities would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Precision BioSciences, Inc.
Precision BioSciences, Inc. is an advanced gene editing company
dedicated to improving life (DTIL) with its novel and proprietary
ARCUS® genome editing platform that differs from other technologies
in the way it cuts, its smaller size, and its simpler structure.
Key capabilities and differentiating characteristics may enable
ARCUS nucleases to drive more intended, defined therapeutic
outcomes. Using ARCUS, the Company’s pipeline is comprised of in
vivo gene editing candidates designed to deliver lasting cures for
the broadest range of genetic and infectious diseases where no
adequate treatments exist.
Forward-Looking Statements
Certain statements contained in this press release, including
those relating to the timing and size of the Private Placement, the
anticipated total gross proceeds from the Private Placement and
other statements relating to the Private Placement, are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and involve a number of
risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. These
risks and uncertainties include, but are not limited to, risks and
uncertainties associated with the consummation of the Private
Placement, uncertainties related to market conditions, the
satisfaction of customary closing conditions related to the Private
Placement, the completion of the Private Placement on the
anticipated terms or at all, general economic conditions and other
risks identified from time to time in the reports the Company files
with the SEC, including its most recent Annual Report on Form 10-K,
its Quarterly Reports on Form 10-Q and its Current Reports on Form
8-K, which are available at www.sec.gov. The forward-looking
statements in this press release speak only as of the date of this
document, and the Company undertakes no obligation to update or
revise any of the statements. The Company’s business is subject to
substantial risks and uncertainties, including those referenced
above. Investors, potential investors, and others should give
careful consideration to these risks and uncertainties.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240508195910/en/
Investor and Media Contact: Naresh Tanna Vice President
of Investor Relations Naresh.Tanna@precisionbiosciences.com
Precision BioSciences (NASDAQ:DTIL)
Historical Stock Chart
From Apr 2024 to May 2024
Precision BioSciences (NASDAQ:DTIL)
Historical Stock Chart
From May 2023 to May 2024