Indication intelligence, analysis and sector perception

Compass Therapeutics (CMPX) files for a private investment in public equity (PIPE) financing to raise $80 million

November 2, 2022 11:11am

CMPX is trading up +$0.29 (+8.50%) at $3.71

CMPX has entered into a securities purchase agreement with a select group of institutional investors to issue and sell an aggregate of 25 million shares of its common stock at an offering price of $3.21 per share.

CMPX anticipates the gross proceeds from the PIPE to be approximately $80 million, before deducting fees to the placement agents and other offering expenses.

The closing of the financing is expected to occur by November 8, 2022, subject to the satisfaction of customary closing conditions.

This private placement was led by Enavate Sciences, a portfolio company of Patient Square Capital, with participation by Janus Henderson Investors, Braidwell LP, Vivo Capital, Adage Capital Partners LP, OrbiMed, Monashee Investment Management and DAFNA Capital Management LLC, among others.

In connection with the PIPE, Compass has also appointed James P. Boylan, Chief Executive Officer of Enavate Sciences, to its board of directors.

The Bottom Line: utilizing solid investors ensures a positive financing as reflected by stats.

Stats: 52-week high of 4.10 and a low of $1.25

Shares Outstanding: 101.28 M

Float: 59.95 M shares

Percent (%) held by Insiders: 10.94%

Shares Held by Institutions: 61.40%

Total Cash: $132.02M

Debt: $3.5 M

35 companies, 1 interpreter!

Insight, foresight and recommendation

My motto … never leave an investor uninformed! I say today what others won’t, so you can do what others can’t.

My name is Henry McCusker; I endorse these opinions under my own name and with a subscription based membership.

Do you have an opinion you would like to share with us? We would like to hear from you.

Please e-mail us at hwm@regmedinvestors.com.

Editor and Publisher ... Henry McCusker enters his tenth (10th) year at RegMed Investors with past experience in sell-side analysis, buy-side management, corporate management and due diligence.

RegMed Investors (RMi) or Regmedinvestors.com content is the intellectual property of Henry McCusker. Any copying, republication or redistribution of RMI’s content, including by framing or similar means, is expressly prohibited without the prior written consent of Scimitar; who also shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. For additional information on other Scimitar media services or reposting please email hwm@regmedinvestors.com.

The information included above as well as individual companies and/or securities mentioned should be construed as guidance in RMi reviews.

The facts stated and the opinions given in this publication are based on data and information considered to be reliable and have been carefully worked into my qualitative analyses and prognoses. However, no guarantee can be given as to their fairness, accuracy or completeness.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.