Aevi Genomic Medicine Announces Agreement for $28 Million Private Placement
The Company will sell 22.2 million shares of its common stock with warrants to purchase approximately 4.0 million additional shares of its common stock, for aggregate proceeds of
The Company intends to use the aggregate net proceeds of the PIPE to further the development of its two lead clinical programs, to support its ongoing collaboration with
Subject to the approval of the Company's stockholders and the satisfaction of certain customary closing conditions, the PIPE is expected to close in the fourth quarter of 2017. The Company has not yet set a date for a stockholder meeting to seek the approval of the PIPE. Once a meeting date has been determined, the Company will send a notice and proxy statement relating to the meeting and the approval being sought to its stockholders.
The securities being sold in this PIPE have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and will not be able to be offered or sold in
This notice does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995, which include all statements other than statements of historical fact, including (without limitation) those regarding the expected timing of the closing of the private placement, the Company's development and business strategy, its product candidates and the plans and objectives of management for future operations. The Company intends that such forward-looking statements be subject to the safe harbors created by such laws. Forward-looking statements are sometimes identified by their use of the terms and phrases such as "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning, "expect," "believe," "will," "will likely," "should," "could," "would," "may" or the negative of such terms and other comparable terminology. All such forward-looking statements are based on current expectations and are subject to risks and uncertainties. Should any of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may differ materially from those included within these forward-looking statements. Accordingly, no undue reliance should be placed on these forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, the events described in the forward-looking statements contained in this release may not occur.