Compass Therapeutics' $120 Million Public Offering Details
Details on Compass Therapeutics' Public Offering
Compass Therapeutics, Inc. (NASDAQ: CMPX), a company dedicated to developing innovative antibody-based therapeutics, has recently announced a significant public offering. The offering consists of 33,290,000 shares of common stock priced at $3.00 each, along with pre-funded warrants that allow the purchase of up to an additional 6,710,000 shares at a slightly reduced price of $2.9999 per share. This public offering is projected to generate approximately $120 million in gross proceeds for the company.
Purpose of the Proceeds
The funds raised through this offering will be strategically utilized to prepare for commercial readiness and to advance research and clinical development of Compass Therapeutics' diverse product candidates. In addition, the proceeds will support general corporate expenditures, which are vital for the company as it continues its mission to treat various human diseases through targeted therapies.
Leadership in the Offering
Compass Therapeutics has engaged several prominent financial firms to lead this offering. Jefferies, Piper Sandler, and Guggenheim Securities are acting as the joint active bookrunning managers, while Raymond James, Wedbush PacGrow, and H.C. Wainwright & Co. have taken on substantial roles as lead managers. Ladenburg Thalmann and D. Boral Capital are serving as co-managers, demonstrating the collaborative effort behind this financial initiative.
Regulatory and Prospectus Information
The public offering is backed by a shelf registration statement on Form S-3, which is already effective. The relevant securities can only be sold through a written prospectus and supplement to ensure compliance with regulations. Interested parties can find the preliminary prospectus on the SEC’s website and learn more about the offering through direct contact with the appointed managers of the offering.
About Compass Therapeutics
Founded in 2014, Compass Therapeutics is at the forefront of developing clinical-stage therapies to combat cancer. The company focuses on the synergy between angiogenesis, immune response, and tumor growth to deliver effective treatments. It has a robust pipeline of product candidates that target essential biological processes needed for an effective anti-tumor response. Their approach includes enhancing the microvasculature through targeted therapies, stimulating a vigorous immune reaction, and counteracting the immunosuppressive tactics employed by tumors. Utilizing both standalone therapies and combination treatments, Compass aims to improve patient outcomes significantly.
Investor and Media Contact Information
For any queries regarding investments or media engagements, individuals can reach out to Compass Therapeutics directly. The Investor contact email is ir@compasstherapeutics.com, while the Media contact for Anna Gifford, the Chief of Staff, can be reached at media@compasstherapeutics.com or by phone at 617-500-8099.
Frequently Asked Questions
What is the total amount raised through the public offering?
The public offering is expected to raise approximately $120 million in gross proceeds.
What will the proceeds of the offering be used for?
The proceeds will be utilized for commercial readiness, research development, and general corporate purposes.
Who is managing the public offering?
The offering is managed by Jefferies, Piper Sandler, and Guggenheim Securities, among others.
What is Compass Therapeutics focused on?
Compass Therapeutics focuses on developing antibody-based therapeutics to treat various cancers and improve patient outcomes.
How can I contact Compass Therapeutics for inquiries?
Inquiries can be directed to ir@compasstherapeutics.com for investor relations or media@compasstherapeutics.com for media-related questions.
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