Aptevo Therapeutics announces $2M registered direct offering

Aptevo Therapeutics (APVO) announced that it has entered into definitive securities purchase agreements for the purchase and sale of 2,324,000 shares of the company’s common stock in a registered direct offering at a purchase price of 86.2c per share. Roth Capital Partners is acting as the exclusive placement agent for the offering. Aptevo expects the gross proceeds from the offering to be approximately $2.0M, before deducting the placement agent’s fees and other estimated offering expenses payable by the company. Aptevo intends to use the net proceeds from the proposed offering for the continued clinical development of its product candidates, working capital, and other general corporate purposes.