Roseville, Minnesota, USA
February 23, 2022
Calyxt, Inc. (NASDAQ: CLXT) (“Calyxt” or the “Company”), a plant-based synthetic biology company, today announced the closing of its previously announced placement to an institutional investor in an underwritten offering of 3,880,000 shares of its common stock, pre-funded warrants to purchase up to 3,880,000 shares of its common stock, and common warrants to purchase up to 7,760,000 shares of its common stock (the “Offering”).
Canaccord Genuity acted as the sole bookrunner for the Offering.
The net proceeds to the Company from the Offering, after underwriting discounts and expenses, were approximately $10.0 million, assuming none of the accompanying common warrants issued in the Offering are exercised. The Company intends to use the net proceeds from the Offering for enhancing the capabilities of its BioFactory production system and increasing its capacity to produce at larger scales, continuing to build out its PlantSpring technology platform and artificial intelligence / machine learning capabilities, furthering customer relationships, and for working capital and general corporate purposes.
The above-referenced securities were offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-233231) previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on September 27, 2019. The Offering was made by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the Offering were filed with the SEC on February 22, 2022. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained on the SEC’s website at http://www.sec.gov or by contacting Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, Suite 1200, Boston, Massachusetts 02110, or by email at prospectus@cgf.com..
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the Offering, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.