aibioAligos Therapeutics announces $105 million private placement
Tickers ALGS
Aligos is selling shares, pre-funded warrants and warrants at $26.0825 per share and warrant to fund a Phase 2 study of ALG-000184 and extend cash into the second half of 2026.
Key facts
- Company
- Aligos Therapeutics, Inc. (NASDAQ: ALGS)
- News type
- Financings
- Primary source
- Aligos Therapeutics, Inc. 8-K (2025-02-12)
Aligos Therapeutics, Inc. (Nasdaq: ALGS) said on February 12, 2025 that it signed a securities purchase agreement for a private placement expected to bring gross proceeds of approximately $105 million before fees and expenses.
A life sciences dedicated investment firm is leading the deal, with other new and existing institutional investors taking part. Jefferies and Piper Sandler are placement agents, and H.C. Wainwright & Co. is financial advisor.
Aligos is selling 2,103,307 shares of common stock, made up of 1,427,000 voting shares and 676,307 non-voting shares. It is also selling pre-funded warrants for up to 1,922,511 voting shares. A pre-funded warrant is paid for almost in full up front and has a nominal exercise price, here $0.0001 per share. Buyers also get accompanying warrants for up to 2,012,909 voting shares.
The combined price is $26.0825 per share with its warrant and $26.0824 per pre-funded warrant with its warrant. The accompanying warrants have an exercise price of $26.02 per share, can be exercised immediately and expire on February 13, 2032. Closing was expected on February 13, 2025.
Aligos plans to use the money, with existing cash, to move ALG-000184 into a Phase 2 study in chronic hepatitis B virus infection and for general corporate purposes. It believes its cash, including the expected net proceeds, will fund planned operations into the second half of 2026. The securities are unregistered, and Aligos agreed to register their resale. The deal is described in the company's press release.