(RTTNews) - Immunotherapeutics company Hookipa Pharma Inc. (HOOK) announced Thursday that Gilead Sciences, Inc. (GILD) has purchased 15 million shares of HOOKIPA's common stock for approximately $21.25 million, at a price of $1.4167 per share.
In addition, HOOKIPA has the right, subject to certain terms and conditions, to sell an additional approximately $8.75 million of common stock to Gilead as pro-rata participation in potential future equity raises.
The agreement with Gilead replaces the stock purchase agreement that Hookipa entered into with Gilead in 2022.
The transaction closed on December 20, 2023. Following the completion of the stock purchase, Gilead's ownership in HOOKIPA increased to 18.76 million shares, or approximately 19.4% of HOOKIPA's outstanding shares of Common Stock.
