Alaunos Therapeutics announces pricing of public offering of common stock

Alaunos Therapeutics announced the pricing of its underwritten public offering of approximately 24,228,719 shares of its common stock for gross proceeds of approximately $15.7 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Alaunos. All of the shares of common stock are being offered by Alaunos. The offering is expected to close on or about December 1, 2022, subject to customary closing conditions. In addition, Alaunos has granted to the underwriter a 30-day option to purchase up to 3,634,307 additional shares of its common stock. Alaunos intends to use the net proceeds from the offering to fund the continued development of the product candidates in its pipeline, and for working capital, capital expenditures and general corporate purposes. Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering.