enGene Holdings Inc. Announces Private Placement Agreement

enGene Holdings Inc., a company based in Quebec, Canada, recently disclosed in a Form 8-K filing to the Securities and Exchange Commission that it has entered into subscription agreements for a private placement. The agreement, made on October 24, 2024, includes the sale of 6,758,311 common shares of the company at a price of $8.90 per share to various investors, with expected total gross proceeds of about $60 million before subtracting offering expenses.

The private placement, anticipated to be concluded on October 29, 2024, is subject to customary closing conditions and has been priced to meet the “Minimum Price” requirement under Nasdaq rules. The company intends to utilize the net proceeds from this offering for the ongoing development of detalimogene, pre-commercial activities, the possible expansion of the DDX platform, and for general corporate purposes and working capital.

Furthermore, as part of the subscription agreements, enGene Holdings Inc. has committed to filing a registration statement on Form S-3 with the SEC within 20 business days subsequent to the private placement’s closure. This registration statement aims to register the resale of the subscribed shares acquired through the private placement. The company will make commercially reasonable efforts to have this registration statement declared effective promptly, and to keep it operational for a specified period.

The Subscription Agreements also contain standard representations, warranties, and commitments by enGene Holdings Inc., along with indemnification responsibilities for the company and the investors involved. These agreements are in compliance with regulations concerning exempt transactions under the Securities Act and issued without public solicitation. Shareholders and potential investors are advised not to rely solely on these representations, warranties, and commitments to determine the actual state of the company.

Additionally, the company disclosed a press release on October 25, 2024, announcing the subscription agreements execution. Alongside this, an updated Corporate Presentation was released on the same day. These materials have been included in the Form 8-K filing as exhibits.

The content furnished as part of this report should not be considered as filed for the purposes of the Securities Exchange Act of 1934 or incorporated by reference without specific mention in any future filings under the Securities Act of 1933 or the Exchange Act. Investors and other interested parties are encouraged to refer to the complete Subscription Agreement filed as Exhibit 10.1, as well as the press release and Corporate Presentation provided in Exhibits 99.1 and 99.2 respectively for further details regarding enGene Holdings Inc.’s recent private placement transaction.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read enGene’s 8K filing here.

About enGene

enGene Holdings Inc, through its subsidiary enGene, Inc, operates as a clinical-stage biotechnology company that develops genetic medicines through the delivery of therapeutics to mucosal tissues and other organs. Its lead product candidate is EG-70 (detalimogene voraplasmid), which is a non-viral immunotherapy to treat non-muscle invasive bladder cancer patients with carcinoma-in-situ (Cis), who are unresponsive to treatment with Bacillus Calmette-Guérin.