Adicet Bio Raises $87M Via Equity To Fund Development Of Non-Hodgkin's Lymphoma Candidate

Adicet Bio Inc ACET priced an underwritten public offering of 6.25 million shares at $14.00 per share, raising gross proceeds of $87.5 million.

• The offer price represents a discount of almost 3% from the last close price of $14.49 on Tuesday.
• Underwriters have an option to purchase up to an additional 937,500 shares. The offering will close by December 10.
• Jefferies and Guggenheim Securities are acting as joint book-running managers. Truist Securities is acting as a passive book-runner. BTIG, H.C. Wainwright & Co., and JonesTrading are acting as co-managers.
• Adicet will use the proceeds to fund the development of ADI-001 for NHL, completion of preclinical development & initiation of clinical development of ADI-002 for solid tumors.
• See the offer prospectus here.
• Related Link: Adicet Stock Rallies After Early Responses For Off-The-Shelf Drug In B-cell Non-Hodgkin's Lymphoma.
• Price Action: ACET shares are up 2% at $14.78 during the premarket session on the last check Wednesday.