ContraFect Corporation Prices Public Offering of Common Stock
18 März 2021 - 4:00AM
ContraFect Corporation (Nasdaq: CFRX), a clinical-stage
biotechnology company focused on discovering and developing direct
lytic agents for the treatment of life-threatening infectious
diseases, today announced the pricing of its underwritten public
offering of 10,000,000 shares of its common stock at a public
offering price of $5.00 per share. ContraFect has also granted the
underwriters a 30-day option to purchase up to an additional
1,500,000 shares of its common stock. The gross proceeds from the
public offering will be $50 million, before deducting underwriting
discounts and commissions and offering expenses payable by
ContraFect and excluding any exercise of the underwriters' option
to purchase additional shares. All shares in the offering are to be
sold by ContraFect.
SVB Leerink and Cantor are acting as joint
bookrunning managers for the offering. Mizuho Securities is acting
as a passive bookrunning manager for the offering. Maxim Group LLC
is acting as a co-manager for the offering.
ContraFect intends to use the net proceeds of
the offering to fund the completion of the exebacase Phase 3
development program for potential BLA submission for the treatment
of Staph aureus bacteremia, including right-sided endocarditis, to
fund a Phase 1/2 safety and efficacy trial for exebacase as a
treatment for patients with chronic post-operative Staphylococcal
prosthetic joint infections, to fund the acceleration of
investigational new drug-enabling activities and a Phase 1a/1b
trial of CF-370, an engineered gram-negative lysin directly
targeting Pseudomonas aeruginosa, and for working capital and other
general corporate purposes.
The offering is expected to close on or about
March 22, 2021, subject to customary closing conditions.
The offering is being made pursuant to an
effective shelf registration statement on Form S-3 that was filed
with the U.S. Securities and Exchange Commission (SEC) on August
14, 2020 and declared effective on August 31, 2020. A preliminary
prospectus supplement describing the terms of the offering has been
filed with the SEC. A final prospectus supplement will be filed
with the SEC and will form a part of the effective registration
statement. Copies of the final prospectus supplement and
accompanying prospectus relating to the offering may be obtained,
when available, by contacting SVB Leerink LLC, Attention: Syndicate
Department, One Federal Street, 37th Floor, Boston, Massachusetts
01220, by email at syndicate@svbleerink.com, or by telephone at
(800) 808-7525, ext. 6105; or Cantor Fitzgerald & Co., Attn:
Capital Markets, 499 Park Avenue, 6th floor, New York, NY 10022;
Email: prospectus@cantor.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities, in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
Forward-Looking Statements
This press release contains, and ContraFect’s
officers and representatives may make from time to time,
“forward-looking statements” within the meaning of the U.S. federal
securities laws. Forward-looking statements can be identified by
words such as “projects,” “may,” “will,” “could,” “would,”
“should,” “believes,” “expects,” “anticipates,” “estimates,”
“intends,” “plans,” “potential,” “promise” or similar references to
future periods. Examples of forward-looking statements in this
release include, without limitation, statements regarding the
consummation of the offering, the terms of the offering, the
satisfaction of customary closing conditions with respect to the
offering and the anticipated use of the net proceeds of the
offering. Forward-looking statements are statements that are not
historical facts, nor assurances of future performance. Instead,
they are based on ContraFect’s current beliefs, expectations and
assumptions regarding the future of its business, future plans,
strategies, projections, anticipated events and trends, the economy
and other future conditions. Because forward-looking statements
relate to the future, they are subject to inherent risks,
uncertainties and changes in circumstances that are difficult to
predict and many of which are beyond ContraFect’s control,
including those detailed in ContraFect's filings with the SEC.
Actual results may differ from those set forth in the
forward-looking statements. Important factors that could cause
actual results to differ include, among others, the uncertainties
related to market conditions or for other reasons, the risk that
the offering will not be consummated, and ContraFect’s ability to
develop treatments for drug-resistant infectious diseases. Any
forward-looking statement made by ContraFect in this press release
is based only on information currently available and speaks only as
of the date on which it is made. Except as required by applicable
law, ContraFect expressly disclaims any obligations to publicly
update any forward-looking statements, whether written or oral,
that may be made from time to time, whether as a result of new
information, future developments or otherwise.
Investor Relations Contact
Michael MessingerContraFect CorporationTel: 914-207-2300Email:
mmessinger@contrafect.com
Carlo Tanzi, Ph.D.Kendall Investor RelationsEmail:
ctanzi@kendallir.com
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