News Article

Heat Biologics Inc., raised $25 million in its IPO.
Date: Jul 24, 2013
Source: Daniel Primack

Featured firm in this article: Heat Biologics Inc of Durham, NC

Heat Biologics Inc., a Chapel Hill, N.C.-based developer of OTC cellular therapeutic vaccines, raised $25 million in its IPO. The company priced 2.5 million shares at $10 per share, compared to earlier plans to offer 1.7 million shares at between $10 and $12 per share. It will trade on the Nasdaq under ticker symbol HEAX, while Aegis Capital Corp. served as sole underwriter. The company reports a $20 million net loss on $3 million in revenue for 2012. Shareholders include Brightline Ventures (19.6% pre-IPO stake).