Orrick Advises BioAtla on $65 Million Underwritten Offering of its Common Stock

Orrick advised clinical-stage biotechnology company BioAtla, Inc. (Nasdaq: BCAB) on the sale of 9,745,128 shares of its common stock at a price of $6.67 per share in an underwritten offering. The gross proceeds of the offering to BioAtla, before deducting estimated underwriting discount and commissions and estimated offering expenses, are expected to be approximately $65 million. The offering closed on November 8, 2022.

Investors in the offering include Acuta Capital Partners, Adage Capital Partners, Cormorant Asset Management, EcoR1 Capital, Janus Henderson Investors, Soleus Capital and Vivo Capital. J.P. Morgan Securities LLC acted as sole book-running manager.

The Orrick team advising BioAtla was led by David Schulman and Niki Fang and included Soo Hwang, Stefan Andreev and Anjel Bonilla.