Source: Actinium Pharmaceuticals, Inc.
- Record date established as February 14, 2018
-
To be a shareholder of record, investors are advised to own Actinium
stock by 4:00 PM ET, Monday, February 12, 2018 to account for T+2
settlement timing
- Actinium’s executive management and directors have indicated their intent to subscribe to the rights offering
Actinium Pharmaceuticals, Inc. (NYSE American:ATNM) ("Actinium" or "the Company"),
today issued a reminder to shareholders that the Record Date of its
proposed rights offering is February 14, 2018. To be a shareholder of
record, ownership of Actinium stock must occur by market close of
February 12, 2018 to account for settlement.
Under
the proposed rights offering, Actinium would distribute
non-transferable subscription rights to purchase 35,714,285 units at a
subscription price per unit of $0.70, to its stockholders and certain
participating warrant holders on the record date. The subscription
rights will be exercisable for up to an aggregate of $25.0 million of
units, subject to increase at the discretion of the Company, with
aggregate participation to be allocated among holders on a pro rata
basis if in excess of that threshold.
Each unit
will consist of one share of common stock, 0.25 series A warrants and
0.75 series B warrants. The series A warrants will have a term of 12
months from the date of issuance and will be exercisable at a price of
$0.90. The series B warrants will have a term of 30 months from the
date of issuance and will have an exercise price of $1.10. Holders who
fully exercise their basic subscription rights will be entitled, if
available, to subscribe for an additional amount of units that are not
purchased by other holders, on a pro rata basis and subject to the $25.0
million aggregate offering threshold and other ownership limitations.
The subscription rights are non-transferrable and may only be exercised
during the anticipated subscription period of Thursday, February 15,
2018 through 5:00 PM ET on Friday, March 2, 2018, unless extended.
Actinium’s
executive management and directors have indicated their intent to
subscribe to the rights offering. Investors are advised to ensure they
own Actinium’s stock as of 4:00 PM ET on Monday, February 12, 2018 to be
considered a stockholder of record on Wednesday, February 14, 2018, to
take into account T+2 settlement timing.
The expected calendar for the rights offering is as follows:
- Monday,
February 12, 2018: Buy-In Deadline - to be considered a stockholder of
record on Wednesday, February 14, 2018, shares should be acquired by
this date.
- Wednesday, February 14, 2018: Record Date*
- Thursday, February 15, 2018: Distribution Date; Subscription Period Begins
- Friday, March 2, 2018: Subscription Period Ends 5:00 PM ET*
* Unless extended in Actinium’s sole discretion
Actinium
intends to use the proceeds from the rights offering to complete its
ongoing pivotal, Phase 3 SIERRA trial for its lead product candidate
Iomab-B, generate topline results and support the filing of a BLA
application with the U.S. Food and Drug Administration (FDA) all of
which are anticipated to be approximately $12 to 15 million. Iomab-B is
a first in class therapy being developed for myeloablation and
conditioning of the bone marrow prior to a bone marrow transplant for
patients with relapsed or refractory acute myeloid leukemia (AML) age 55
and older. The SIERRA trial is randomized and controlled 150-patient
trial that is currently active at 15 clinical trial sites in the United
States. Actinium’s CD33 program is currently comprised of an ongoing
Phase 2 clinical trial for Actimab-A and Phase 1 trial for Actimab-M
which are expected to generate top line results in 2018 as well as a
planned Phase 2 trial for Actimab-MDS. The Company intends to partner
the CD33 program and believes that data from these trials as well as the
Actimab-MDS trial will support this strategy and establish its program
as the industry leader. Consequently, the Company may elect to use any
additional proceeds above $15 million to fund proof-of-concept of its
planned Phase 2 Actimab-MDS trial from the CD33 Program, if appropriate,
as it believes this can further support its partnering strategy for the
CD33 program. Actinium will also use the proceeds to support its AWE
Technology Platform, research and development and general working
capital needs.
Actinium has engaged Maxim Group
LLC as dealer-manager for the Rights Offering. Questions about the
rights offering or requests for a prospectus may be directed to
Broadridge Corporate Issuer Solutions, Inc., Actinium’s information
agent for the rights offering, by calling (855) 793-5068 (toll-free); or
to Maxim Group LLC, 405 Lexington Avenue, New York, NY 10174, Attention
Syndicate Department, email: syndicate@maximgrp.com or telephone (212)
895-3745.
This press release does not constitute
an offer to sell or the solicitation of an offer to buy these
securities, nor will 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 registration or qualification under the securities
laws of any such state or jurisdiction.
A
registration statement on Form S-3 relating to these securities has been
filed by the Company with the SEC. The rights offering will only be
made by means of a prospectus. A preliminary prospectus relating to and
describing the proposed terms of the rights offering has been filed
with the SEC as a part of the registration statement and is available on
the SEC’s web site.
About Actinium Pharmaceuticals, Inc.
Actinium
Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company
focused on developing and commercializing targeted therapies for
potentially superior myeloablation and conditioning of the bone marrow
prior to a bone marrow transplant and for the targeting and killing of
cancer cells. Our targeted therapies have demonstrated the potential to
result in significantly improved access to bone marrow transplant with
better outcomes, namely increased marrow engraftment and survival. Our
targeted therapies are ARC’s or Antibody Radio-Conjugates that combine
the targeting ability of monoclonal antibodies with the cell killing
ability of radioisotopes. Three of our four ARC drug candidates are
based on our AWE or Actinium Warhead Enabling Technology Platform that
utilizes the isotope Actinium-225 (Ac225) that emits alpha
particles. We are currently conducting clinical trials for our four
product candidates; Iomab-B, Actimab-A Actimab-M and Actimab-MDS, as
well as performing research on other potential drug candidates utilizing
our proprietary AWE Technology Platform. Our most advanced product
candidate, Iomab-B, an ARC developed by the Fred Hutchinson Cancer
Research Center, is comprised of an anti-CD45 monoclonal antibody
labeled with iodine-131. We are currently conducting a pivotal Phase 3
trial of Iomab-B for myeloablation and conditioning of the bone marrow
prior to a bone marrow transplant for patients with relapsed or
refractory acute myeloid leukemia (AML) age 55 and older. A bone marrow
transplant is a potentially curative treatment for patients with AML
and other blood cancers including leukemias, lymphomas and multiple
myeloma as well as certain blood disorders. Iomab-B has been tested in
several of these other cancers with over five hundred patients treated
in several Phase 1 and 2 trials with promising results. Upon successful
completion of our Phase 3 clinical trial for Iomab-B we intend to
submit this candidate for marketing approval in the U.S. and European
Union where it has been designated as an Orphan Drug. We are also
developing a potentially best in class CD33 program using an ARC
comprised of the anti-CD33 monoclonal antibody lintuzumab labeled with
the alpha-particle emitter actinium-225. Our most advanced CD33 program
candidate, Actimab-A, is currently in a Phase 2 clinical trial for
patients advanced over the age of 60 who are newly diagnosed with AML
and ineligible for standard induction chemotherapy. Actimab-A also has
Orphan Drug designation in the US and EU. Actimab-M, our second CD33
targeting ARC, is being studied in a Phase 1 trial for patients with
refractory multiple myeloma. Actinium is also planning a Phase 2 trial
for Actimab-MDS, our third CD33 program candidate, as a conditioning
regimen prior to a bone marrow transplant for patients with MDS that
have a p53 genetic mutation. Our AWE or Actinium Warhead Enabling
Technology Platform, originally developed in conjunction with Memorial
Sloan Kettering Cancer Center, is focused on leveraging Actinium’s know
how and intellectual property to create additional ARC drug candidates
by labeling Ac225 to targeting moieties that we will either progress in clinical trials ourselves or out-license.