DURHAM, N.C. - Humacyte, Inc. (NASDAQ:HUMA), a biotechnology firm specializing in bioengineered human tissue, has set the price for its public stock offering at $3.00 per share. The company is offering 13.4 million shares, aiming to raise $40.2 million in gross proceeds before expenses. The offering is expected to close around Monday, subject to customary conditions.
The underwriters, which include TD (TSX:TD) Cowen and Cantor as joint book-running managers and BTIG as lead managers, also have a 30-day option to purchase up to an additional 2.01 million shares.
Humacyte plans to use the net proceeds to further its regenerative medicine pipeline, support FDA review of its Biologics License Application for bioengineered human acellular vessels (HAVs), prepare for potential commercial launches, and for general corporate purposes.
The HAVs, which are in late-stage clinical trials, have applications in vascular trauma repair, hemodialysis access, and peripheral artery disease, among others. The company's HAV for hemodialysis access has received the FDA's Regenerative Medicine Advanced Therapy designation, along with Fast Track designation, and is also prioritized by the U.S. Secretary of Defense for vascular trauma treatment.
The offering is made through a prospectus supplement and accompanying prospectus as part of a shelf registration statement filed and declared effective by the SEC. The prospectus supplement describes the terms of the offering and is available on the SEC's website.
The information in this article is based on a press release.
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