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DURHAM, N.C., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Humacyte, Inc. (Nasdaq: HUMA), a clinical-stage biotechnology platform company developing universally implantable, bioengineered human tissue at commercial scale, today announced that it entered into a securities purchase agreement with an institutional investor to purchase approximately $15.0 million worth of its common stock and warrants to purchase common stock in a registered direct offering.
Under the terms of the securities purchase agreement, the Company has agreed to sell 2,808,988 shares of its common stock and warrants to purchase up to 2,808,988 shares of common stock. 1,404,494 warrants will be exercisable immediately, have an exercise price of $5.34 per share, and will expire 180 days from the date of issuance. The additional 1,404,494 warrants will be exercisable immediately, have an exercise price of $5.34 per share, and will expire four and one-half years from the date of issuance. The purchase price for one share of common stock and one warrant will be $5.34.
The gross proceeds to the Company from the registered direct offering are estimated to be approximately $15.0 million before deducting offering expenses. The offering is expected to close on or about November 15, 2024, subject to the satisfaction of customary closing conditions.
The proposed offering of the common stock and warrants described above is being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-267225) filed with the Securities and Exchange Commission (SEC) and declared effective by the SEC on September 9, 2022, and the accompanying prospectus contained therein.
The offering is being made only by means of a prospectus supplement and accompanying prospectus. A prospectus supplement describing the terms of the public offering will be filed with the SEC and will form a part of the effective registration statement.
Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, on the SEC’s website at http://www.sec.gov.
This press release shall 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Humacyte
Humacyte, Inc. (Nasdaq: HUMA) is developing a disruptive biotechnology platform to deliver universally implantable bioengineered human tissues, advanced tissue constructs, and organ systems designed to improve the lives of patients and transform the practice of medicine. The Company develops and manufactures acellular tissues to treat a wide range of diseases, injuries, and chronic conditions. Humacyte’s initial product candidates, a portfolio of ATEVs, are currently in late-stage clinical trials targeting multiple vascular applications, including vascular trauma repair, arteriovenous (AV) access for hemodialysis, and peripheral artery disease. A Biologics License Application for the ATEV in the vascular trauma indication is currently under review by the FDA and was granted Priority Review. Preclinical development is also underway in coronary artery bypass grafts, pediatric heart surgery, treatment of type 1 diabetes, and multiple novel cell and tissue applications. Humacyte’s 6mm ATEV for AV access in hemodialysis was the first product candidate to receive the FDA’s Regenerative Medicine Advanced Therapy (RMAT) designation and has also received FDA Fast Track designation. Humacyte’s 6mm ATEV for urgent arterial repair following extremity vascular trauma and for advanced PAD also have received an RMAT designations. The ATEV received priority designation for the treatment of vascular trauma by the U.S. Secretary of Defense. The ATEV is an investigational product and has not been approved for sale by the Food and Drug Administration or any international regulatory agency.