BriaCell(US:BCTX) Newsfilter·2024-05-15 12:00Core Viewpoint - BriaCell Therapeutics Corp. has announced a securities purchase agreement to raise approximately $5.0 million through the sale of common shares and warrants, aimed at funding working capital and research initiatives, including a Phase 3 study in advanced breast cancer [1][2]. Group 1: Offering Details - The company will sell 2,402,935 common shares and warrants at a price of $2.00 per share for institutional investors and $2.215 for an existing investor and a director [1]. - The warrants will have an exercise price of $2.11 per share, becoming exercisable six months post-issuance and expiring five years from the initial exercise date [1]. - The closing of the offering is expected around May 17, 2024, pending customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for working capital, general corporate purposes, research and development studies, and legal costs associated with the Phase 3 study in advanced breast cancer [2]. - The company may also consider repurchasing certain issued shares and warrants with the proceeds [2]. Group 3: Regulatory and Compliance Information - The offering is being conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission on January 22, 2024, and declared effective on January 31, 2024 [3]. - A prospectus supplement detailing the offering terms will be filed with the SEC and made available on their website [3]. - The company is relying on exemptions from certain prospectus requirements under Canadian securities laws for the offering [3]. Group 4: Related Party Transactions - A director of the company may participate in the offering, which is classified as a "related party transaction" under Multilateral Instrument 61-101 [5]. - The company is exempt from the formal valuation requirement as the director's participation is not expected to exceed 25% of the market capitalization [5].