Aptevo Therapeutics prices 3.4M shares at $1.35 in public offering

Aptevo Therapeutics announced the pricing of a public offering of 3,400,000 shares of its common stock or pre-funded warrants in lieu thereof and warrants to purchase up to an aggregate of 6,800,000 shares of its common stock at a purchase price of $1.35 per share and associated Common Warrant. Each share of common stock is being offered together with two Common Warrants, each to purchase one share of common stock. The Common Warrants will have an exercise price of $1.35 per share, are exercisable upon issuance, and will expire five years following the date of issuance. The offering is expected to close on or about April 15, 2024, subject to customary closing conditions. Roth Capital Partners is acting as placement agent of the offering. Dawson James Securities, Inc. is acting as co-agent. Gross proceeds, before deducting placement agent fees and commissions and offering expenses, are expected to be approximately $4.6 million. The company intends to use the net proceeds from the offering for the continued clinical development of its product candidates, working capital, and other general corporate purposes.