Calithera Biosciences, Inc. Prices $10.0 Million Underwritten Public Offering of Common Stock and Warrants to Purchase Common Stock

Calithera Biosciences, Inc. Prices $10.0 Million Underwritten Public Offering of Common Stock and Warrants to Purchase Common Stock




Calithera Biosciences, Inc. Prices $10.0 Million Underwritten Public Offering of Common Stock and Warrants to Purchase Common Stock

SOUTH SAN FRANCISCO, Calif., March 30, 2022 (GLOBE NEWSWIRE) — Calithera Biosciences, Inc. (Nasdaq: CALA), a clinical-stage, precision oncology biopharmaceutical company, today announced the pricing of its previously announced underwritten public offering of 18,518,519 shares of its common stock at a price to the public of $0.54 per share. Each share of common stock is accompanied by a warrant to purchase one share of common stock at an exercise price of $0.54 per share, which is immediately exercisable and will expire 18 months from the date of issuance, or a short-term warrant, and a warrant to purchase one share of common stock at an exercise price of $0.54 per share, which is immediately exercisable and will expire 5 years from the date of issuance, or a long-term warrant. The gross proceeds to Calithera from the offering are expected to be approximately $10.0 million, before deducting underwriting discounts and commissions and estimated offering expenses. All of the shares of common stock and warrants are being offered by Calithera. The offering is expected to close on April 1, 2022, subject to customary closing conditions.

SVB Leerink and H.C. Wainwright & Co. are acting as joint book-running managers for the offering.

A shelf registration statement relating to the offered securities was filed with the Securities and Exchange Commission (SEC), and was declared effective. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website, located at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus related to the offering may be obtained, when available, from SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, by telephone at 1-800-808-7525, ext. 6105 or by email at syndicate@svbleerink.com, or from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, Attention: Placement, by telephone at 212-856-5711 or by email at placements@hcwco.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

CONTACTS:

Stephanie Wong
Chief Financial Officer
650.870.1063
ir@Calithera.com

INVESTORS:

Burns McClellan
Lee Roth
212.213.0006
lroth@burnsmc.com