09:07 AM EDT, 10/04/2024 (MT Newswires) -- Humacyte ( HUMA ) said Friday it entered into a securities purchase agreement with an institutional investor to raise about $30 million through a registered direct offering of its common stock and warrants.

Under the agreement, the company will sell about 5.7 million shares and warrants to purchase an equal number of shares.

Of the warrants, 2.8 million can be exercised immediately at an exercise price of $5.28 per share, and will expire six months from the initial exercise date. The additional 2,840,910 warrants can also be exercised immediately at an exercise price of $5.28, and will expire four and a half years from the initial exercise date, the company said.

The purchase price for one share of common stock and one warrant is $5.28.

The offering is expected to close on Oct. 7.

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