HAYWARD, Calif.--(BUSINESS WIRE)--Nov. 19, 2018--
Pulse Biosciences, Inc. (Nasdaq: PLSE) (“Pulse Biosciences” or the
“Company”), a novel medical therapy company bringing to market its
proprietary CellFX™ Nano-Pulse Stimulation™ (NPS™) platform,
today announced that it has commenced its previously announced rights
offering of $45,000,000 of its common stock. The subscription rights
will expire and have no value if they are not exercised prior to 5:00
p.m. Eastern Time on Thursday December 6, 2018 (the “Expiration Date”).
Pursuant to the rights offering, Pulse Biosciences is distributing, at
no charge to the holders of its common stock, non-transferable
subscription rights to purchase up to $45,000,000 of shares of its
common stock at a subscription price per share equal to the lesser of
(i) $13.33 per share (the “Initial Price”) or (ii) the volume weighted
average price (the “Alternate Price”) of the Company’s common stock as
calculated for the five-trading day period through and including the
Stockholders wishing to exercise subscription rights must timely pay
$13.33 per share, the Initial Price, for the number of shares of common
stock they wish to acquire. If the Alternate Price is lower than the
Initial Price on the Expiration Date, any excess subscription amounts
paid by a subscribing holder will be applied towards the purchase of
additional shares in the rights offering. Stockholders who fully
exercise their basic subscription rights will be entitled to subscribe
for additional shares that are not purchased by other stockholders, on a
pro rata basis and subject to availability and ownership limitations.
A registration statement relating to the shares of common stock was
previously filed with the Securities and Exchange Commission (the “SEC”)
and declared effective on November 6, 2018. A prospectus relating to the
offering was filed with the SEC on November 19, 2018 and is available on
the SEC’s website.
Stockholders may exercise their subscription rights by delivering
documentation of their subscription and payment in the manner specified
in the prospectus relating to the rights offering. Beneficial
stockholders (i.e. stockholders whose shares are in a brokerage
account), should exercise their subscription rights as indicated in the
instructions provided by their broker-dealer. Procedures and dates
set-forth by broker-dealers may differ from those in offering documents.
Investors wishing to participate in the Company’s offering are
encouraged to contact their broker-dealer for further information.
Questions about the rights offering and requests for copies of the
prospectus relating to the rights offering may be directed to Broadridge
Corporate Issuer Solutions, Inc., the Company's information and
subscription agent for the rights offering, after the Record Date by
calling (888) 789-8409 (toll-free) or by emailing firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other 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 other
jurisdiction. Any offer will be made only by means of the prospectus
forming a part of the effective registration statement.
About Pulse Biosciences
Pulse Biosciences is a novel medical therapy company bringing to market
its proprietary CellFX™ Nano-Pulse Stimulation™ (NPS™) platform. The
Company’s CellFX NPS platform provides a novel, precise, non-thermal,
treatment technology delivering nanosecond duration energy pulses that
impact cells in treated tissue while sparing acellular tissue. NPS’s
unique mechanism of action disrupts the functions of internal cell
structures while maintaining the outer cell membrane initiating a
cascade of events within the cell that results in regulated cell death.
The novel characteristics of the Company’s NPS mechanism of action has
the potential to significantly benefit patients across multiple medical
applications, including dermatology, the Company’s first planned
commercial application. In pre-clinical studies, NPS has demonstrated an
ability to induce immunogenic cell death in several cancer cell lines.
The Company believes its NPS platform may play a role in immuno-oncology
as a focal tumor treatment that can initiate an adaptive immune
response. More information can be found at www.pulsebiosciences.com.
All statements in this press release that are not historical are
forward-looking statements, including, among other things, statements
relating to Pulse Biosciences’ expectations regarding its planned rights
offering, financing plans, use of proceeds received in the rights
offering, regulatory clearance and the timing of FDA filings or
approvals, the mechanism of action of NPS treatments, current and
planned future clinical studies, other matters related to its pipeline
of product candidates, future financial performance, anticipated cash
use and other future events. These statements are not historical facts
but rather are based on Pulse Biosciences’ current expectations,
estimates, and projections regarding Pulse Biosciences’ business,
operations and other similar or related factors. Words such as “may,”
“will,” “could,” “would,” “should,” “anticipate,” “predict,”
“potential,” “continue,” “expects,” “intends,” “plans,” “projects,”
“believes,” “estimates,” and other similar or related expressions are
used to identify these forward-looking statements, although not all
forward-looking statements contain these words. You should not place
undue reliance on forward-looking statements because they involve known
and unknown risks, uncertainties, and assumptions that are difficult or
impossible to predict and, in some cases, beyond Pulse Biosciences’
control. Actual results may differ materially from those in the
forward-looking statements as a result of a number of factors, including
those described in Pulse Biosciences’ filings with the Securities and
Exchange Commission. Pulse Biosciences undertakes no obligation to
revise or update information in this release to reflect events or
circumstances in the future, even if new information becomes available.
Caution: Pulse Biosciences’ Nano-Pulse Stimulation (NPS) and CellFX
system are for investigational use.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181119005904/en/
Source: Pulse Biosciences, Inc.
Rights Offering Information & Subscription Agent:
Corporate Issuer Solutions, Inc.
Sr. Vice President and
Chief Financial Officer
Gitanjali Jain Ogawa, 646-378-2949
Nadine D. Tosk, 504-453-8344