PDS Biotech Announces up to $22.55 Million Financing Led by Dr. Patrick Soon-Shiong, Founder of NantWorks
PDS Biotech announced a PIPE of up to $22.55 million led by Nant Capital, the vehicle of biotech entrepreneur Dr. Patrick Soon-Shiong, who will join the board along with a second Nant designee for as long as Nant beneficially owns at least 15% of shares outstanding. The deal splits into an initial closing of roughly $11.55 million in shares or pre-funded warrants at $0.2825 per unit plus half-cover common warrants, and a contingent closing in which Nant must buy $10 million and AB Group Ltd. $1 million of stock, triggered only by FDA submission of a registrational Phase 3 protocol for PDS0301 designed with Nant.
Key figures
- Deal Value Usd
- 22550000
- Offering Price
- 0.2825
- Shares Offered
- 20875220
- Common warrants
- 20442479
- Phase2 patients
- 22
- Milestone trigger
- FDA submission of registrational Phase 3 protocol for PDS0301
- Pre funded warrants
- 20009736
- Phase2 survival 24mo
- 80%
- Pre funded unit price
- 0.28217
- Expected initial closing
- on or about September 11, 2026
- Milestone closing nant usd
- 10000000
- Initial closing gross proceeds
- 11550000
- Milestone closing ab group usd
- 1000000
- Nant board designation threshold
- 15% beneficial ownership
AI analysis
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