OmniAb to sell 21.254M shares at $1.40 in private placement

OmniAb (OABI) announced it has entered into a definitive securities purchase agreement to issue and sell an aggregate of 21,254,106 shares of its common stock at a price of $1.40 per share, in a private placement. OmniAb anticipates the gross proceeds from the private placement to be approximately $30M, before deducting any placement agent fees and offering-related expenses. The net proceeds from the financing are expected to be used by OmniAb for general corporate purposes. The private placement is expected to close on or about August 26, subject to customary closing conditions. The financing included top-tier new and existing investors, as well as officer and director participation. Leerink Partners is acting as the sole placement agent for the private placement.