PLYMOUTH
MEETING, Pa., April 15,
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 offering
of 2,536,258 shares of its common stock at an offering price of
$7.693 per share and pre-funded
warrants to purchase 2,135,477 shares of its common stock at an
offering price of $7.692 per
pre-funded warrant, in each case before underwriting discounts and
commissions. Gross proceeds to INOVIO from the
offering are expected to be approximately $36 million, before deducting underwriting
discounts and commissions and estimated offering expenses payable
by INOVIO. The offering is expected to close on or
about April 18, 2024, subject to
customary closing conditions. All of the securities are being sold
by INOVIO.
The offering was led by Deep Track Capital.
Oppenheimer & Co. and Citizens JMP are acting as joint
book-running managers for the offering.
The securities were offered by INOVIO pursuant to an effective
shelf registration statement previously filed by INOVIO with the
Securities and Exchange Commission (SEC). A final prospectus
supplement and accompanying prospectus related to the offering will
be filed with the SEC, and will be available on the SEC's website
located at http://www.sec.gov. When available, copies of the final
prospectus supplement and the accompanying prospectus relating to
the offering 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, CA 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 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 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
anticipated gross proceeds and anticipated closing date. 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, filed with the SEC
on March 6, 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: Thomas Hong (267)
440-4298 thomas.hong@inovio.com
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SOURCE INOVIO Pharmaceuticals, Inc.