Matinas BioPharma (MTNB) Prices 32.26M Shares at $1.55

Matinas BioPharma Holdings, Inc. (NYSE: MTNB) announced the pricing of its underwritten registered public offering of 32,260,000 shares of its common stock, offered at a price to the public of $1.55 per share for expected gross proceeds of approximately $50.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses. In addition, Matinas BioPharma has granted the underwriters a 30-day option to purchase up to an additional 4,839,000 shares of its common stock on the same terms and conditions. All of the shares in the offering are being sold by Matinas BioPharma. The offering is expected to close on or about January 14, 2020, subject to customary closing conditions.

Piper Sandler & Co. is acting as the sole lead active bookrunner for the offering. SunTrust Robinson Humphrey is also acting as a bookrunner for the offering. BTIG, LLC is acting as lead manager and H.C. Wainwright & Co., Maxim Group LLC and Roth Capital Partners are acting as co-managers for the offering.

Matinas BioPharma anticipates using the net proceeds from the offering for ongoing development activities for its product candidates, primarily MAT9001, and for working capital and other general corporate purposes.

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