Full Press Release Details
WESTLAKE VILLAGE, Calif., Jan. 25, 2023 (GLOBE NEWSWIRE) -- Genelux Corporation (“Genelux” or “the Company”), a clinical-stage immunotherapy company focused on developing a pipeline of next-generation oncolytic viral immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types, today announced the pricing of its initial public offering of 2,500,000 shares of its common stock at a price to the public of $6.00 per share, for total gross proceeds of approximately $15.0 million, before deducting underwriting discounts and commissions and offering expenses. All of the shares are being offered by Genelux. In addition, Genelux has granted the underwriters a 30-day option to purchase up to an additional 375,000 shares of its common stock at the initial public offering price less the underwriting discounts and commissions.
In connection with the offering, the Company’s shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol “GNLX” on January 26, 2023 subject to final approval by Nasdaq. The offering is expected to close on January 30, 2023, subject to satisfaction of customary closing conditions.
The Benchmark Company, LLC and Brookline Capital Markets, a division of Arcadia Securities, LLC are acting as joint book-running managers for this offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and became effective on January 25, 2023. The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained, when available, from: The Benchmark Company, LLC, Attention: Prospectus Department, 150 E. 58th Street, 17th Floor, New York, NY 10155, or by telephone at (212) 312-6700, or by email at prospectus@benchmarkcompany.com; or from Brookline Capital Markets, a division of Arcadia Securities, LLC, Attention: Michael Fontaine, 280 Park Avenue, Suite 43W, New York, NY 10017, or by telephone at (646) 256-5258, or by email at michael.fontaine@brooklinecapmkts.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Genelux Corporation
Genelux is a clinical-stage biopharmaceutical company focused on developing a pipeline of next-generation oncolytic immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. The Company's most advanced product candidate, Olvi-Vec (olvimulogene nanivacirepvec), is a proprietary, modified strain of the vaccinia virus, a stable DNA virus with a large engineering capacity. The core of Genelux's discovery and development efforts revolves around the Company's proprietary CHOICE™ platform from which the Company has developed an extensive library of isolated and engineered oncolytic vaccinia virus immunotherapeutic product candidates, including Olvi-Vec. For more information, please visit www.genelux.com.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Genelux, including those set forth in the Risk Factors section of Genelux’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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