Heat Biologics: Hits record low after discounted stock-and-warrant offering

Scorpius Holdings

16/01/2020 15:57

** Shares of cancer drug developer  HTBX.O  drop 32.5% to
record low of 29 cents
    ** Co says it is pricing its stock-and-warrant offering at
35 cents/shr - a 20.5% discount on co's closing price on
Wednesday  urn:newsml:reuters.com:*:nACS31rYWa
    ** Warrants have exercise price of 39 cents each,
exercisable when issued and expiring 14 months from date of
issuance
    ** Co expects to earn $7 mln before discounts and
commissions; offering set to close on Jan. 21
    ** In 2019, stock had fallen 51.5%

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com;))