Alx oncology announces pricing of public offering

South san francisco, calif., oct. 05, 2023 (globe newswire) -- alx oncology holdings inc., (“alx oncology” or the “company”) (nasdaq: alxo), an immuno-oncology company developing therapies that block the cd47 immune checkpoint pathway, today announced the pricing of its previously announced underwritten public offering of common stock and pre-funded warrants. alx oncology is selling 7,370,690 shares of common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase 1,250,000 shares of common stock in the offering. the shares of common stock are being sold at a public offering price of $6.38 per share, the closing price on october 4, 2023, and the pre-funded warrants are being sold at a public offering price of $6.379 per pre-funded warrant, which represents the per share public offering price for each common share less the $0.001 per share exercise price for each pre-funded warrant. the gross proceeds to alx oncology from this offering are expected to be approximately $55.0 million, before deducting the underwriting discounts and commissions and other estimated offering expenses, and excluding the exercise of any pre-funded warrants. all shares of common stock and pre-funded warrants to be sold in the offering are being offered by the company. in addition, alx oncology has granted the underwriters a 30-day option to purchase up to an additional 1,293,103 shares of its common stock at the public offering price per share less underwriting discounts and commissions. the offering is expected to close on or about october 10, 2023, subject to the satisfaction of customary closing conditions.
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