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Applied Genetic Technologies Corporation (Nasdaq: AGTC), a biotechnology company conducting human clinical trials of adeno-associated virus (AAV)-based gene therapies for the treatment of rare diseases, has closed an underwritten public offering of 16,741,573 shares of its common stock, together with accompanying warrants to purchase 8,370,786 shares of common stock. The common stock were sold in combination with an accompanying warrant to purchase 0.5 of a share of common stock issued for each share of common stock sold. The warrants must be exercised in integral multiples of two and will have an exercise price of $6.00 per share, are immediately exercisable and will have a term of five years from the date of issuance. The combined offering price to the public of each share of common stock and accompanying warrant was $4.45, resulting in the gross proceeds to Applied Genetic Technologies Corporation of approximately $74.5 million.
Applied Genetic Technologies Corporation intends to use the proceeds from this offering, together with other available funds, to fund its ongoing Skyline and Vista clinical trials in its X-linked retinitis pigmentosa (XLRP) program and its ongoing Phase 1/2 clinical trials in its Achromatopsia (ACHM) program, and for working capital and other general corporate purposes.
Roth Capital Partners acted as co-manager for the offering.
About Applied Genetic Technologies Corporation
Applied Genetic Technologies Corporation (AGTC) is a clinical-stage biotechnology company developing genetic therapies for people with rare and debilitating ophthalmic, otologic and central nervous system (CNS) diseases. AGTC is a leader in designing and constructing all critical gene therapy elements and bringing them together to develop customized therapies that address real patient needs. AGTC's most advanced clinical programs leverage its best-in-class technology platform to potentially improve vision for patients with an inherited retinal disease. AGTC has active clinical trials in X-linked retinitis pigmentosa (XLRP) and achromatopsia (ACHM CNGB3 & ACHM CNGA3). Its preclinical programs build on the Company's industry-leading AAV manufacturing technology and scientific expertise. AGTC is advancing multiple important pipeline candidates to address substantial unmet clinical need in optogenetics, otology and CNS disorders. For more information, please visit
(Source: Company Press Release | 01.28.21)
About Roth Capital Partners
Roth Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and
their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading,
market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and
maintains offices throughout the U.S. For more information on ROTH, please visit
Date of Announcement: 03.04.21
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reproduced in any form without the express written permission of Roth. Copyright 2021.