Aptevo Therapeutics Announces $3.0 Million Offering at Market Price Under Nasdaq Rules Page 1

SEATTLE, WA / ACCESSWIRE / September 16, 2024 / Aptevo Therapeutics Inc. (NASDAQ:APVO), a clinical-stage biotechnology company focused on developing novel immuno-oncology therapies based on its proprietary ADAPTIR and ADAPTIR-FLEX platform technologies, today announced that it has entered into securities purchase agreements with certain healthcare-focused and institutional investors to purchase (i) 9,090,910 shares of its common stock or pre-funded warrants in lieu thereof and (ii) warrants to purchase an aggregate of up to 18,181,820 shares of its common stock (the “Common Warrants”) at a purchase price of $0.33 per share and related Common Warrant in a registered direct offering priced at market under Nasdaq rules. Each share of Common Stock is being offered together with two Common Warrants, each to purchase one share of Common Stock. The Common Warrants have an exercise price of $0.33 per share, are exercisable upon shareholder approval and expire five years from the date of shareholder approval.

The offering is expected to close on or about September 18, 2024, subject to customary closing conditions. Roth Capital Partners is acting as placement agent for the offering. The gross proceeds, before deducting placement agent fees and commissions and offering expenses, are expected to be approximately $3.0 million. The company intends to use the net proceeds from the offering for the continued clinical development of its product candidates, working capital and other general corporate purposes.

The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-281892), which was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on September 16, 2024. The offering is being made only by means of a prospectus. Copies of the accompanying prospectus relating to and describing the terms of the offering, when available, may be obtained at the SEC’s website at www.sec.gov or by contacting Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660 or by email at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy 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 offers, if any, will be made only by means of a prospectus, including a prospectus supplement, which will form part of the effective registration statement.

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