Felicitex Therapeutics said in a filing that it is considering offering 2.5M units priced at $6.25 per unit. That price could change. The Natick, Massachusetts-based company hopes to list its shares on Nasdaq under the symbol FLCT.
This oncology drug development company specializes in, therapies that target dormant cancer cells. When cancer cells are dormant, they can become therapy-resistant, metastasize, and recur. Felixitex is developing treatments that target both dormant and proliferating cancers for the deadliest and most therapy-resistant liquid and solid tumors: hematopoietic, ovarian, pancreatic, colorectal, osteosarcoma, glioblastoma, and lung.
Each IPO unit would consist of one share plus two warrants to buy one share apiece at the IPO price. The warrant exercise price would be reset after 90 days of issuance to a price that is at least 50% of the IPO unit price. Underwriters would receive a 45-day option to buy up to 372K additional shares and/or up to 744K warrants to cover any over-allotments. IPO proceeds will help fund research & development subsidize general corporate purposes and provide working capital. Aegis Capital Corp. is the sole underwriter on the deal.