DURHAM, N.C., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Humacyte, Inc. (NASDAQ:HUMA), a clinical-stage biotechnology platform company developing universally implantable, bioengineered human tissue at commercial scale, today announced that it entered into a securities purchase agreement with an institutional investor to purchase approximately $30.0 million worth of its common stock and warrants in a registered direct offering.
Under the terms of the securities purchase agreement, the Company has agreed to sell 5,681,820 shares of its common stock and warrants to purchase 5,681,820 shares of common stock. 2,840,910 warrants will be exercisable immediately, have an exercise price of $5.28 per share, and will expire six months from the initial exercise date. The additional 2,840,910 warrants will be exercisable immediately, have an exercise price of $5.28 per share, and will expire four and a half years from the initial exercise date. The purchase price for one share of common stock and one warrant will be $5.28.
The gross proceeds to the Company from the registered direct offering are estimated to be approximately $30.0 million, before deducting the placement agent's fees and other estimated offering expenses. The offering is expected to close on or about October 7, 2024, subject to the satisfaction of customary closing conditions.
EF Hutton LLC is acting as exclusive placement agent for the offering.
The proposed offering of the common stock and warrants described above is being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-267225) filed with the Securities and Exchange Commission (SEC) and declared effective by the SEC on September 9, 2022, and the accompanying prospectus contained therein.
The offering is being made only by means of a prospectus supplement and accompanying prospectus. A prospectus supplement describing the terms of the public offering will be filed with the SEC and will form a part of the effective registration statement.
Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting EF Hutton LLC Attention: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY ...
