Financing ·
PDS Biotechnology Corporation entered into a Securities Purchase Agreement for an unregistered private placement of up…
PDSBPDS Biotechnology Corp
PDS Biotechnology Corporation entered into a Securities Purchase Agreement for an unregistered private placement of up to $22.55 million in equity funding, led by Nant Capital, LLC. The transaction includes an initial closing expected on September 11, 2026, generating approximately $11.55 million from the sale of common stock and warrants at a unit price of $0.2825. A contingent milestone closing will occur upon FDA submission of a Phase 3 protocol for PDS0301, obligating Nant and AB Group Ltd. to purchase an additional $11 million in securities. In connection with the financing, the board size increased from six to eight directors, granting Nant the right to designate two members, including Dr. Patrick Soon-Shiong, provided it retains 15% ownership. The company also granted NantWorks a one-year exclusive option to negotiate a license for its PDS0101 program. PDS Biotechnology is a clinical-stage biotechnology company focused on developing targeted immunotherapies for cancer.