India, Sept. 8 -- PDS Biotechnology Corporation (PDSB) announced an equity financing of up to $22.55 million in a private investment in public equity (PIPE) transaction led by Nant Capital, LLC, with participation from existing investors.
The financing includes an initial closing expected to generate approximately $11.55 million and a contingent milestone closing of up to $11 million tied to the submission of a registrational Phase 3 clinical trial protocol for PDS0301 to the U.S. Food and Drug Administration (FDA).
At the initial closing, PDS Biotech expects to issue approximately 20.88 million shares, or pre-funded warrants in lieu of shares, along with approximately 20.44 million common warrants.
The common warrants will be exercisabl...