MAIA Biotechnology Enters into Private Placement Agreement

On February 18, 2025, MAIA Biotechnology, Inc. filed a Form 8-K with the Securities and Exchange Commission, disclosing a recent event where the company entered into a Securities Purchase Agreement with accredited investors. The agreement involved the issuance and sale of 1,686,667 shares of the company’s common stock, along with warrants to purchase up to the same number of shares, in a private placement transaction with expected gross proceeds of approximately $2.715 million.

The investors, including certain members of MAIA Biotechnology’s board of directors, subscribed to the offering, aligning their interests with the stockholders of the company. Members of the board acquired shares of Common Stock and warrants at a price of $1.50 per share and are set to commence exercise one year after issuance with a term of six years. Notably, company directors Stan Smith and Ramiro Guerrero participated in the private placement, acquiring shares and warrants amounting to approximately $185,000 and $110,000, respectively.

The securities issued in the private placement, including shares of common stock and warrants, are classified as restricted securities under Rule 144 of the Securities Act of 1933. These securities do not contain any registration rights and are expected to close on February 20, 2025, pending the fulfillment of customary closing conditions.

The net proceeds from this placement are anticipated to be utilized by MAIA Biotechnology to initiate financial support for Part C of Phase II trial THIO-101 and for general working capital purposes. The company plans to leverage the funds raised to progress its clinical-stage biopharmaceutical endeavors towards developing targeted immunotherapies for cancer.

The Form 8-K also specified that the offering is being conducted in compliance with Section 4(a)(2) of the Securities Act of 1933 and Regulation D. The company will be using the net proceeds from the private placement to further its research efforts, specifically focusing on its lead program THIO aimed at treating NSCLC patients with telomerase-positive cancer cells.

The detailed terms and conditions of this Securities Purchase Agreement and related warrants are available through attached exhibits to the Form 8-K filing. Interested parties can refer to the complete documents for a comprehensive understanding of the agreements. Additionally, a press release was issued by MAIA Biotechnology on February 18, 2025, announcing the pricing of the private placement, providing an insight into the company’s strategic financial initiatives.

Investors and stakeholders are advised to review all official communications to stay informed about MAIA Biotechnology’s developments and growth prospects.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read MAIA Biotechnology’s 8K filing here.

MAIA Biotechnology Company Profile

MAIA Biotechnology, Inc, a clinical stage biotechnology company, engages in the discovery, development, and commercialization of therapies targeting cancer. The company's lead product candidate is THIO, a telomere-targeting agent that is in Phase II clinical study to evaluate its activity in patients with non-small cell lung cancer.