Celcuity Inc. Announces Pricing of Concurrent Public Offerings of 2.750% Convertible Senior Notes Due 2031 and Common Stock and Pre-Funded Warrants

Core Viewpoint - Celcuity Inc. has announced the pricing of its public offerings, including $175 million in convertible senior notes and approximately 1.84 million shares of common stock at $38.00 per share, aiming to raise a total of approximately $248.7 million for various corporate purposes [1][6]. Offering Details - The company is offering $175 million in 2.750% convertible senior notes due 2031, with an option for underwriters to purchase an additional $26.25 million to cover over-allotments [1][2]. - The common stock offering includes 1,836,842 shares priced at $38.00 each, with pre-funded warrants available at $37.999 per warrant [1][2]. Financial Terms - The convertible notes will accrue interest at 2.750% per year, payable semiannually, and will mature on August 1, 2031 [3]. - The initial conversion rate for the convertible notes is set at 19.4932 shares of common stock per $1,000 principal amount, equating to a conversion price of approximately $51.30 per share, representing a 35% premium over the common stock offering price [4]. Closing Timeline - The expected closing date for the convertible notes offering is August 1, 2025, while the common stock offering is anticipated to close on July 31, 2025, subject to customary closing conditions [5]. Use of Proceeds - The net proceeds from both offerings are estimated to be approximately $248.7 million, which will be used for working capital, clinical trial expenditures, and other general corporate purposes [6]. Company Overview - Celcuity is a clinical-stage biotechnology company focused on developing targeted therapies for oncology, with its lead candidate, gedatolisib, currently undergoing multiple clinical trials for various cancer indications [11].