Cue Biopharma Announces Pricing of Approximately $20 Million Public Offering

BOSTON, April 14, 2025 (GLOBE NEWSWIRE) -- Cue Biopharma, Inc. (Nasdaq: CUE), a clinical-stage biopharmaceutical company developing a novel class of therapeutic biologics to selectively engage and modulate disease-specific T cells for the treatment of cancer and autoimmune disease, today announced the pricing of an underwritten public offering of (i) 13,530,780 shares of its common stock and accompanying common stock warrants to purchase an aggregate of 3,382,695 shares of common stock and, (ii) to certain investors in lieu of common stock, pre-funded warrants to purchase 11,469,216 shares of common stock and accompanying common stock warrants to purchase an aggregate of 2,867,304 shares of common stock. Each share of common stock and accompanying common stock warrant are being sold together at a combined public offering price of $0.79, and each pre-funded warrant and accompanying common stock warrant are being sold together at a combined public offering price of $0.789. The aggregate gross proceeds of the offering are expected to be approximately $20 million, before deducting underwriting discounts and commissions and other offering expenses. Each pre-funded warrant will have an exercise price of $0.001 per share, will be exercisable immediately and will be exercisable until all of the pre-funded warrants are exercised in full. Each common stock warrant will have an exercise price of $0.79 per share, will be exercisable immediately and will expire five years from the date of issuance. The offering is expected to close on or about April 16, 2025, subject to satisfaction of customary closing conditions. All of the securities are being offered by Cue Biopharma.

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