BriaCell announces $8.5M common shares offering

BriaCell Therapeutics announced the pricing of a best-efforts offering of 12.325M common shares, priced at-the-market under Nasdaq rules. Each common share is being sold at an offering price of 69c per share. All of the common shares and warrants in the offering are being offered by the company. Total gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses, are expected to be approximately $8.5M. The offering is expected to close on September 12, subject to satisfaction of customary closing conditions. The company intends to use the net proceeds from the offering for working capital requirements, general corporate purposes, and the advancement of business objectives. ThinkEquity is acting as sole placement agent for the offering.