Xenetic Biosciences, Inc. Announces $12.5 Million Private Placement Priced at a Premium to Market

Jul 26, 2021

FRAMINGHAM, MA / ACCESSWIRE / July 26, 2021 / Xenetic Biosciences, Inc. (NASDAQ:XBIO) ("Xenetic" or the "Company"), a biopharmaceutical company focused on advancing XCART™, a personalized CAR T platform technology engineered to target patient- and tumor-specific neoantigens, today announced that it has entered into a definitive agreement with a single healthcare-focused institutional investor for the purchase of 4,629,630 shares of its common stock (or common stock equivalents) at a purchase price per share of $2.70, in a private placement priced at-the-market under Nasdaq rules. Additionally, Xenetic has also agreed to issue to the investor warrants to purchase up to 4,629,630 shares of common stock. The warrants to purchase 4,629,630 shares of common stock have an exercise price of $3.30 per share, will be immediately exercisable and will expire three and one half years from the date the registration statement registering for resale the shares of common stock issuable upon exercise of the warrants is declared effective by the U.S. Securities and Exchange Commission. The closing of the offering is expected to occur on or about July 28, 2021, subject to the satisfaction of customary closing conditions.

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