Celyad Oncology SA (“Celyad” or the “Company”) announced today that it has obtained commitments from a subsidiary of Fortress Investment Group (such subsidiary, “Fortress”), Tolefi SA (“Tolefi”) and other historical shareholders to subscribe to a capital increase of approximately EUR 9,800,000. The capital increase will take place at a subscription price of EUR 0.52 per share, which represents a 5% discount to the 30-day volume-weighted average price (VWAP) of the shares on August 23, 2023 .
The Company intends to use the net proceeds from the private placement to fund research and development expenditures, to advance the current pipeline of preclinical CAR-T candidates, to discover and develop additional preclinical product candidates at the its proprietary non-genetically modified small hairpin RNA (shRNA) technology platform, as well as for working capital, other general corporate purposes, and the enhancement of the Company’s intellectual property.