MAIA Biotechnology raises $1.3 million through private placement

MAIA Biotechnology Inc. (NYSE: MAIA) completed a private placement on December 16, 2024, raising approximately $1.29 million from accredited investors.

The biotechnology company issued 1,053,751 shares of common stock at $1.224 per share. Investors also received warrants to purchase an additional 1,053,751 shares at an exercise price of $1.36 per share.

The warrants become exercisable six months after issuance and expire three years from the issuance date. The exercise price represents the minimum price as defined under NYSE American Rule 713 on the date the securities purchase agreement was executed.

The warrants include customary adjustments but do not contain price protection provisions, according to the company's announcement.

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