Aprea Therapeutics prices 2.62M shares at $1.165 in private placement

Aprea Therapeutics (APRE) entered into a securities purchase agreement with new and existing healthcare focused investors and certain insiders of the Company to sell an aggregate of 2,623,023 shares of common stock, together with warrants to purchase up to an aggregate 2,623,023 shares of common stock, in a private placement priced at-the-market under Nasdaq rules. The combined effective offering price for each share of common stock and accompanying warrant to be issued is $1.165. The warrants to be issued will have an exercise price of $1.04 per share, will be exercisable immediately upon issuance, and will expire on the five-year anniversary of the earlier of the effectiveness date of the registration statement covering the resale of the securities purchased in the Offering and the date the shares underlying the warrants are eligible for resale under Rule 144. The gross proceeds to the Company from the Offering are estimated to be approximately $3.1M before deducting the placement agent’s fees and other estimated Offering expenses. The Company intends to use the upfront net proceeds from the private placement for general corporate purposes and for research and development expenses. The Company believes the aggregate net proceeds from the Offering will be sufficient to fund the Company into 2027 based on current projections. The Offering is expected to close on or about December 10, subject to the satisfaction of customary closing conditions. Maxim Group is acting as the sole placement agent in connection with the Offering.