For more information please contact: Investment Banking
James Antonopoulos
Managing Director Co-Head of Healthcare Investment Banking
(646) 358-1906
jantonopoulos@roth.com
Eric B. Cheng
Managing Director Co-Head of Healthcare Investment Banking
(646) 358-1901
echeng@roth.com
Aparna Beeram
Vice President
(646) 358-1912
abeeram@roth.com
Equity Capital Markets
Aaron Gurewitz
Head of Equity
Capital Markets
(949) 720-5703
agurewitz@roth.com
Nazan Akdeniz
Senior Vice President
(949) 720-5740
nakdeniz@roth.com
Lou Ellis
Senior Vice President
(949) 720-5739
lellis@roth.com |
Transaction Information
Delcath Systems, Inc. (NASDAQ: DCTH), an interventional oncology company focused on the treatment of rare primary and metastatic cancers of the liver, has closed an underwritten public offering of 2.2 million shares of common stock (or common stock equivalents) and Series F warrants to purchase up to 2.2 million shares of common stock. Each share of common stock (or common stock equivalent) was sold with one Series F warrant to purchase one share of common stock at a combined public offering price of $10.00 per share and related Series F warrant. The Series F warrants were immediately exercisable at a price of $10.00 per share and will expire on the fifth anniversary of their issuance date. The resulting gross proceeds for Delcath Systems, inc. from the offering was approximately $22 million.
Delcath also announced that, in connection with the offering, its common stock was approved for listing on the Nasdaq Capital Market and began trading on the Nasdaq Capital Market under the symbol “DCTH” on May 1, 2020. Delcath intends to use the proceeds of the offering for working capital and general corporate purposes, including the continued development of Melphalan/HDS.
ROTH Capital Partners acted as sole book-running manager for the offering.
About Delcath System, Inc.
Delcath Systems, Inc. is an interventional oncology company focused on the treatment of primary and metastatic liver cancers. Our investigational product – Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (Melphalan/HDS) – is designed to administer high-dose chemotherapy to the liver while minimizing systemic exposure and associated side effects. In addition to the FOCUS Trial, we have initiated a global Phase 3 clinical trial for intrahepatic cholangiocarcinoma (ICC) called The ALIGN Trial. Melphalan/HDS has not been approved by the U.S. Food & Drug Administration (FDA) for sale in the U.S. In Europe, our system is marketed under the trade name Delcath Hepatic CHEMOSAT® Delivery System for Melphalan (CHEMOSAT) and has been CE Marked and used at major medical centers to treat a wide range of cancers of the liver. CHEMOSAT is being marketed under an exclusive licensing agreement with medac GmbH, a privately held multi-national pharmaceutical company headquartered in Germany that specializes in the treatment and diagnosis of oncological, urological and autoimmune diseases. For more information, please visit
http://delcath.com.
(Source: Company Press Release | 05.01.20)
About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and
their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading,
market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and
maintains offices throughout the U.S. For more information on ROTH, please visit
www.roth.com. |
Date of Announcement: 05.14.20
The material, information and facts discussed in this announcement other than the information regarding ROTH Capital Partners, LLC
("ROTH") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any
companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or
estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be
reproduced in any form without the express written permission of ROTH. Copyright 2020. |