MiNK Therapeutics to sell 4.64M shares at $1.25 in private placement

MiNK Therapeutics has entered into a stock purchase agreement to sell securities in a private placement financing for $5.8M. This capital injection is earmarked for accelerating the clinical trials of MiNK-215, an allogeneic CAR-iNKT cell therapy targeting fibroblast activation protein in solid tumors, which is planned to enter the clinic in early 2025. In the PIPE, MiNK is selling 4,640,000 shares of its common stock at a price of $1.25 per share, a 25% premium. The PIPE is expected to close on May 14, 2024, subject to customary closing conditions.