Aptose Announces Pricing of $8.4 Million Public Offering and a Concurrent $4 Million Private Placement with Hanmi Pharmaceutical

Core Viewpoint - Aptose Biosciences Inc. has announced a public offering of approximately 4.9 million common shares at a price of $1.71 per share, aiming to raise about $8.4 million before expenses [1][3] Group 1: Public Offering Details - The public offering consists of 4,912,280 common shares priced at $1.71 each, with warrants included for the same price [1] - Gross proceeds from the public offering are expected to be around $8.4 million, with underwriters having a 30-day option to purchase an additional 736,842 shares and/or warrants [1][3] - The public offering is anticipated to close on or about January 30, 2024, pending customary closing conditions [3] Group 2: Private Placement Details - A concurrent private placement of $4 million with Hanmi Pharmaceutical will occur, with Hanmi acquiring 19.97% of Aptose's outstanding shares post-placement at a price of $1.90 per share, an 11% premium over the public offering price [2] - Hanmi will also receive warrants to purchase common shares at $1.71 per share [2] - The private placement is expected to close on or about January 31, 2024, subject to customary closing conditions [3] Group 3: Use of Proceeds - The net proceeds from both the public offering and private placement will be utilized to support clinical trials for tuspetinib, manufacture clinical supplies, and for working capital and general corporate purposes [3] Group 4: Company Overview - Aptose Biosciences is a clinical-stage biotechnology company focused on developing precision medicines for oncology, particularly in hematology [7] - The lead product, tuspetinib, is being studied as a treatment for relapsed or refractory acute myeloid leukemia (AML) [7]