MAIA Biotechnology announces closing of $4M registered direct offering

MAIA Biotechnology, Inc. announced that it has closed its previously announced registered direct offering for the issuance and sale of an aggregate of 2,424,243 of its shares of common stock at a purchase price of $1.65 per share. In a concurrent private placement, MAIA also issued and sold unregistered warrants to purchase up to an aggregate of 2,424,243 shares of its common stock.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The unregistered warrants have an exercise price $1.86 per share, become exercisable six months following issuance and will expire five and one-half years from the date of issuance.

The gross proceeds to MAIA from the offering were approximately $4 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. MAIA currently intends to use the net proceeds from the offering for working capital and general corporate purposes as well as to fund research and development activities.

The shares of common stock offered in the registered direct offering (but excluding the unregistered warrants offered in the concurrent private placement and the shares of common stock underlying such unregistered warrants) were offered and sold by the Company pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-273984), including a base prospectus, previously filed with the Securities and Exchange Commission (SEC) on August 15, 2023 and declared effective by the SEC on August 23, 2023. The offering of the shares of common stock issued in the registered direct offering was made only by means of a prospectus supplement that forms a part of the registration statement.
MB Bureau