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Heat Biologics plans upsized initial public stock offering on July 23
Company to price 2.27 million shares; deals includes 15% greenshoe
By Aleesia Forni
Virginia Beach, Va., July 8 - Heat Biologics, Inc. expects to price its initial public offering of common stock on July 23 for trading on July 24, according to an informed source.
The company plans to sell 2,272,727 shares, increased from 1.65 million shares, and there will be a 15% greenshoe for an additional 340,909 shares, according to a filing with the Securities and Exchange Commission.
As previously reported, the company plans to price the offering at $10.00 to $12.00 per share.
Aegis Capital Corp. is the bookrunner and Cantor Fitzgerald & Co. will be the co-manager.
Proceeds will be used for clinical development of HS-110 and HS-410 and for other general corporate purposes.
The biopharmaceutical company is based in Chapel Hill, N.C. It expects its shares to trade on the Nasdaq under the symbol "HTBX."
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