Replimune Group Announces Pricing of Public Offering

On November 25, 2024, Replimune Group, Inc. (NASDAQ: REPL) completed an underwriting agreement with Leerink Partners LLC, marking the issuance and sale of a total of 6,923,000 shares of the company’s common stock (Firm Shares) and pre-funded warrants for 3,846,184 shares of common stock (Pre-Funded Warrants) to the Underwriter. This underwriting agreement signifies a significant step for the company, as it secured the Offering with the Underwriter exercising its 30-day option to purchase up to 1,615,377 additional shares of common stock.

The shares were priced at $13.00 per share, while the Pre-Funded Warrants were priced at $12.9999 per Pre-Funded Warrant, indicating the per share public offering price for the Shares less the $0.0001 exercise price for each Pre-Funded Warrant. The Underwriting Agreement comes with customary provisions such as representations, warranties, and indemnification obligations under the Securities Act of 1933.

Investors holding the Pre-Funded Warrants have the option to exercise them after the date of issuance. However, limitations are in place to ensure that no holder, along with affiliates, would beneficially own more than 4.99% of the outstanding shares without prior notice to the company.

The Offering is expected to yield net proceeds of approximately $155.8 million for Replimune after accounting for underwriting discounts, commissions, and estimated Offering expenses. The Firm Shares and Pre-Funded Warrants are set to be delivered on November 27, 2024, and December 4, 2024, respectively, subject to customary closing conditions. The Offering is conducted under the shelf registration statement on Form S-3 ASR.

The Agreement and Pre-Funded Warrant are filed as Exhibits 1.1 and 4.1 respectively, attached to the Form 8-K filing. Additionally, the Company issued two press releases on November 25, 2024, about the Offering and its pricing, attached as Exhibits 99.1 and 99.2.

This announcement does not serve as an offer to sell or a solicitation to buy the mentioned securities, nor is it an indication of any sale activity in jurisdictions where it would be unlawful without proper registration or qualification under relevant securities laws.

Replimune Group’s completion of the public Offering underlines its strategic financial move and potential for further growth in the market space.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Replimune Group’s 8K filing here.

Replimune Group Company Profile

Replimune Group, Inc, a clinical-stage biotechnology company, focuses on the development of oncolytic immunotherapies to treat cancer. The company's proprietary tumor-directed oncolytic immunotherapy product candidates are designed and intended to activate the immune system against cancer. Its lead product candidate is RP1, a selectively replicating version of HSV-1 that expresses GALV-GP R(-) and human GM-CSF, which is in Phase I/II clinical trials for a range of solid tumors; and that has completed Phase II clinical trials for treating cutaneous squamous cell carcinoma.