Kineta entered into a definitive agreement for the purchase and sale of 1,425,179 shares of the Company’s common stock at a purchase price of $4.21 per share of common stock in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company will issue unregistered warrants to purchase up to 1,425,179 shares of common stock with an exercise price of $4.08 per share which will be immediately exercisable for a period of five years following issuance. The closing of the offering is expected to occur on or about April 24, 2023, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses, are expected to be approximately $6 million. The Company intends to use the net proceeds from this offering for working capital purposes.
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