Bellicum Pharmaceuticals Inc., of Houston, priced $139.6 million in a public offering and concurrent private placement. The public offering involved 575,000 shares of series 1 preferred stock and warrants to purchase up to 57.5 million shares, sold at a combined price to the public of $100 per stock and warrant unit. The warrants will be immediately exercisable and will expire seven years from the date of issuance. The aggregate offering size is expected to be about $57.5 million. Jefferies and Wells Fargo Securities are acting as the book-running managers, while Ladenburg Thalmann is acting as a co-manager. The offering is set to close on or about Aug. 21. Concurrent with the public offering, Bellicum, which develops cell therapies, entered an agreement with certain institutional investors providing for a private placement, pursuant to which Bellicum has agreed to sell at two or more separate closings, each at the option of the investors and subject to certain conditions, shares of its series 2 preferred stock and warrants to purchase common stock, and shares of series 3 preferred stock and warrants to purchase common stock, for aggregate gross proceeds of up to $70 million. In connection with the agreement for the private placement, the investors in the private placement will pay Bellicum an up-front option fee of approximately $12.1 million.
Oncolytics Biotech Inc., of San Diego and Calgary, Alberta, said it closed its underwritten public offering, selling 4.61 million common shares and warrants to purchase up to 4.61 million common shares, at 81 cents per share and warrant, for gross proceeds of approximately $3.7 million. Each warrant entitles the holder to purchase one common share, for a period of five years, at an exercise price of 90 cents each. It expects to use the net proceeds for research and development activities and working capital purposes.