Coya Therapeutics Announces Closing of $26.5 Million Private Placement
12 12월 2023 - 10:00PM
Business Wire
Coya Therapeutics, Inc. (Nasdaq: COYA) (“Coya” or the
“Company”), a clinical-stage biotechnology company developing
biologics and cell therapies intended to enhance the function of
regulatory T cells (“Tregs”), announced today the closing of the
sale of an aggregate of 4,370,382 shares of its common stock at a
purchase price of $6.06 per share of common stock, in a private
placement priced at-the-market under Nasdaq rules.
The gross proceeds to the Company from the private placement
were $26.5 million and net proceeds are expected to be
approximately $24.1 million. The Company intends to use the net
proceeds for general corporate purposes, including general and
administrative expenses, working capital and to support
preclinical, clinical, and regulatory activities related to the
Company’s existing and future product candidate pipeline. The net
proceeds from this offering, together with the proceeds from the
Company’s recently announced development agreement with Dr. Reddy’s
Laboratories Ltd., are anticipated to fund the Company’s operations
into 2026.
The financing included participation by former U.S. Secretary of
Commerce Wilbur Ross and other existing institutional investors.
Secretary Ross is expected to join the Board of Directors of Coya
after the closing of the private placement.
BTIG, LLC acted as the lead placement agent and Newbridge
Securities Corp. acted as co-placement agent for the offering.
Allele Capital Partners, LLC, through its executing broker-dealer,
Wilmington Capital Securities, LLC, and Chardan acted as financial
advisors to the Company.
The securities described above were offered and sold in a
private placement under Section 4(a)(2) of the Securities Act of
1933, as amended (the “Act”), and/or Regulation D promulgated
thereunder and were not registered under the Act, or applicable
state securities laws. Accordingly, the securities issued in the
private placement may not be offered or sold in the United States
except pursuant to an effective registration statement or an
applicable exemption from the registration requirements of the Act
and such applicable state securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or other jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or other jurisdiction.
About Coya Therapeutics, Inc.
Headquartered in Houston, TX, Coya Therapeutics, Inc. (Nasdaq:
COYA) is a clinical-stage biotechnology company developing
proprietary treatments focused on the biology and potential
therapeutic advantages of regulatory T cells (“Tregs”) to target
systemic inflammation and neuroinflammation. Dysfunctional Tregs
underlie numerous conditions including neurodegenerative,
metabolic, and autoimmune diseases, and this cellular dysfunction
may lead to a sustained inflammation and oxidative stress resulting
in lack of homeostasis of the immune system. For more information
about Coya, please visit www.coyatherapeutics.com.
Forward Looking Statements
This release contains “forward-looking statements” made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These statements are typically preceded by
words such as “may,” “can,” “anticipate,” “assume,” “should,”
“indicate,” “would,” “believe,” “contemplate,” “expect,” “seek,”
“estimate,” “continue,” “plan,” “point to,” “project,” “predict,”
“could,” “intend,” “target,” “potential,” “will,” or similar words
and expressions of the future. These forward-looking statements
reflect management’s current knowledge, assumptions, judgment and
expectations regarding future performance or events. Although
management believes that the expectations reflected in such
statements are reasonable, they give no assurance that such
expectations will prove to be correct or that those goals will be
achieved, and you should be aware that actual results could differ
materially from those contained in the forward-looking statements.
Forward-looking statements are subject to a number of risks and
uncertainties, including, but not limited to, risks associated with
market conditions and uncertainties related to the offering, the
use of proceeds from the offering and the length of time such
proceeds will fund the Company’s operations. For a further
description of the risks and uncertainties that could cause actual
results to differ from those expressed in these forward-looking
statements, as well as risks relating to the Company’s business in
general, please refer to the Company’s Form 10-K for the year ended
December 31, 2022 and Forms 10-Q for the quarters ended March 31,
2023, June 30, 2023 and September 30, 2023.
All forward-looking statements are expressly qualified in their
entirety by this cautionary notice. You are cautioned not to place
undue reliance on any forward-looking statements, which speak only
as of the date of this release. We have no obligation, and
expressly disclaim any obligation, to update, revise or correct any
of the forward-looking statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20231212841996/en/
Investor Contact David Snyder
david@coyatherapeutics.com
Hayden IR James Carbonara 646-755-7412
James@haydenir.com
Media Contact Anna Marie Imbordino
annamarie@quantum-corp.com 917-680-8765
Coya Therapeutics (NASDAQ:COYA)
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