MAIA Biotechnology Secures $1.43 Million in Non-Brokered Private Placement

MAIA Biotechnology, Inc. (NYSE American: MAIA) announced on February 24, 2025 that it has entered into a Securities Purchase Agreement with accredited investors and certain company directors in connection with a non-brokered private placement. Under the terms of the agreement, the company will issue a total of 894,300 shares of its common stock together with warrants to purchase an equal number of shares at an exercise price of $1.85 per share. The offering, priced at $1.50 per share, is expected to raise approximately $1.34 million in gross proceeds, before offering expenses are deducted.

In addition to the offering to accredited investors, members of the board of directors have been given the opportunity to participate in the private placement. Under a separate provision of the Purchase Agreement, certain directors subscribed to acquire 58,333 shares of common stock and corresponding common stock purchase warrants at the same share price. Company directors Stan Smith and Ramiro Guerrero participated in the offering with subscriptions valued at approximately $37,500 and $50,000, respectively. The board participation is part of the company’s effort to further align the interests of directors with those of its stockholders.

The warrants offered in the private placement are exercisable at a price that represents the greater of the book or market value on the date of execution, subject to customary adjustments. They will be exercisable beginning one year from issuance and remain valid for six years. All securities issued in the offering are being sold as restricted securities under applicable securities laws and have not been registered under the Securities Act of 1933.

According to the company’s press release filed as Exhibit 99.1, the net proceeds from the private placement will be used to finance the startup costs for Part C of the Phase 2 THIO-101 clinical trial, in addition to contributing to the company’s working capital. The closing of the transaction is expected to occur on or about February 26, 2025, subject to customary closing conditions.

The filing also notes that the securities, including those underlying the warrants, are offered pursuant to an exemption from registration under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D. In a related announcement, the company disclosed that a separate private placement valued at approximately $2.7 million was closed on February 24, 2025, with combined gross proceeds from both offerings anticipated to total roughly $4.1 million, prior to expenses.

MAIA Biotechnology remains focused on advancing its clinical programs, including its lead program, THIO-101, a potential first-in-class cancer telomere targeting agent under clinical development. The company cautioned that all forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.

No offer to sell or solicitation of an offer to buy any securities is being made in any jurisdiction where such an offer, solicitation, or sale would be unlawful, and the securities remain subject to restrictions on transferability.

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.