Heat Biologics, which is developing cellular therapeutic vaccines for cancer therapy, raised $25 million by offering 2.5 million shares at $10, the low end of the range of $10-$12. The company originally filed to sell 1.65 million shares, but later upsized the proposed deal size to 2.27 million. The eventual 2.5 million shares sold was 52% more than originally anticipated. Heat Biologics, which has a market cap of $61 million, plans to list on the NASDAQ under the symbol HTBX. Aegis Capital Corp. was the bookrunner on the deal.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.