Arsanis, Inc. just came out with a new prospectus, available here. This is an SEC requirement for firms looking to issue certain types of securities. An excerpt of the prospectus is provided below:
We estimate that the net proceeds we will receive from the issuance and sale of shares of our common stock (or Pre-Funded Warrants to purchase shares of our common stock) and accompanying Class B Warrants in this offering will be approximately $ million, after deducting underwriting discounts and estimated offering expenses payable by us. This estimate excludes the proceeds, if any, from the exercise of the Warrants sold in this offering.
We currently estimate that we will use the net proceeds from this offering to advance our corporate objectives, including but not limited to:
Our expected use of the net proceeds from this offering represents our current intentions based upon our present plans and business conditions. The amounts and timing of our actual use of net proceeds will vary depending on numerous factors, including the relative success and cost of our research, preclinical and clinical development programs, whether we are able to enter into future collaborations, and any unforeseen delays or cash needs. As a result, our management will have broad discretion in the application of the net proceeds, and investors will be relying on our judgment regarding the application of the net proceeds of this offering. In addition, we might decide to postpone or not pursue these planned trials and activities or other development activities if the net proceeds from this offering and the other sources of cash are less than, or do not last as long as, expected.
Pending their use, we plan to invest the net proceeds from this offering in short- and intermediate-term, interest-bearing obligations, investment-grade instruments, certificates of deposit or direct or guaranteed obligations of the U.S. government.
If all of the Pre-Funded Warrants sold in this offering were to be exercised in cash at an exercise price per share equal to $0.001 and all of the Class B Warrants sold in this offering were to be exercised in cash at an exercise price per share equal to $ , we would receive exercise proceeds of approximately $ million. We cannot predict when or if the Warrants will be exercised. It is possible that the Class B Warrants may expire and that the Warrants may never be exercised.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following:
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