BriaCell says $15M unit offering prices at $1.25 per unit

BriaCell (BCTX) Therapeutics Corp. announced the pricing of a best-efforts public offering of 12M units. Each unit consists of one common share and one warrant. Each unit is being sold to the public at a price of $1.25 per unit for gross proceeds of $15M, before deducting placement agent fees and offering expenses. Each warrant is immediately exercisable, and entitles the holder to purchase one common share at an exercise price of $1.50 per share and will expire five years from the date of issuance. The common shares and warrants can only be purchased together in the offering but will be issued separately. The offering is expected to close on July 16, subject to satisfaction of customary closing conditions. No Canadian prospectus has been or will be filed in a province or territory of Canada to qualify the securities in connection with the offering. The company intends to use the net proceeds from the offering for working capital requirements, general corporate purposes, and the advancement of business objectives. ThinkEquity is acting as the sole placement agent for the offering.