Financing ·
PDS Biotechnology redeemed its Yorkville Promissory Note for approximately $4.6 million, terminating the debt instrument
PDSBPDS Biotechnology Corp
PDS Biotechnology redeemed its Yorkville Promissory Note for approximately $4.6 million, terminating the debt instrument. Concurrently, the company closed a PIPE financing led by Nant Capital, raising gross proceeds of $11.3 million through the issuance of common stock and warrants at a unit price of $0.2825. As part of the transaction, Dr. Patrick Soon-Shiong and Mr. James Banaag were appointed to the Board of Directors, with Nant securing designation rights contingent on maintaining a 15% ownership stake. The company also granted NantWorks an exclusive option to negotiate a license for its PDS0101 compound. PDS Biotechnology is a clinical-stage biotechnology company focused on developing targeted immunotherapies and cancer vaccines.