On June 15, 2022, Arcellx, a biotechnology company reimagining cell therapy through the development of innovative immunotherapies for patients with cancer and other incurable diseases, announced the pricing of an upsized underwritten follow-on offering of 7,000,000 shares of common stock at a price to the public of $16 per share. The offering was upsized to 7,000,000 shares of Arcellx's common stock from the original offering size of 4,000,000 shares. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Arcellx, are expected to be $112 million. In addition, Arcellx has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock on the same terms and conditions. The offering is expected to close on June 21, 2022, subject to the satisfaction of customary closing conditions. All of the shares in the proposed offering will be sold by Arcellx.

Wilson Sonsini Goodrich & Rosati is advising Arcellx on the transaction. The team representing Arcellx includes corporate attorneys Dan Koeppen, Rob Wernli, Jennifer Fang, David Sharon, Carole Rosenberg, Amanda Creedon, Tamara Labanowski, and Drew Kohlmeier.

For more information, please see Arcellx's press release.