HAYWARD, Calif.--(BUSINESS WIRE)--Nov. 7, 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 set key dates and pricing structure for its
previously announced rights offering of $45,000,000 of its common stock.
Pulse Biosciences intends to issue non-transferable subscription rights
to purchase shares of its common stock to common stockholders as of 5:00
p.m. Eastern Time on Monday November 19, 2018 (the “Record Date”). Any
person who purchases shares prior to the Record Date will be deemed a
holder of record with respect to those shares only if the transaction
has settled by the Record Date. The standard settlement cycle in the
United States is currently the trade date plus two business days.
Investors wishing to participate in the Company’s offering are
encouraged to contact their broker-dealer to ensure the settlement of
transactions prior to the Record Date.
Following the Record Date, the Company intends to mail to stockholders
of record on the Record Date a prospectus and related documents for use
in exercising subscription rights. 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 closing price on November 7, 2018 (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 Expiration Date.
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.
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.
A registration statement relating to the rights offering has been filed
with the Securities and Exchange Commission (the “Commission”) and was
declared effective by the Commission on November 6, 2018. This press
release does not constitute an offer to sell or the solicitation of an
offer to buy these securities, nor will 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
jurisdiction. Any offer will be made only by means of a prospectus
forming part of the 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 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/20181107006037/en/
Source: Pulse Biosciences, Inc.
Rights Offering Information & Subscription Agent:
Corporate Issuer Solutions, Inc.
Pulse Biosciences, Inc.
President and Chief Financial Officer
Gitanjali Jain Ogawa, (646) 378-2949
Nadine D. Tosk, 504-453-8344