INO · Inovio Pharmaceuticals, Inc.

Inovio Pharmaceuticals has initiated a significant capital raise through a public offering of common stock and warrants, structured to provide immediate funding and potential future equity capital. The transaction involves the sale of 12.5 million shares of common stock paired with Series A and Series B warrants, each granting the right to purchase an additional share. The Series A Warrants have a one-year term, while the Series B Warrants have a five-year term, both exercisable at $1.40 per share. This structure may appeal to investors seeking both immediate equity exposure and longer-term optionality. The company expects to receive approximately $16 million in net proceeds, which will bolster its balance sheet. The offering includes a standard 30-day over-allotment option for the underwriters, which could increase the total capital raised if exercised. The transaction is being conducted under an existing shelf registration statement, facilitating a timely execution, with closing anticipated shortly after the filing date. The gross proceeds before expenses are stated as approximately $17.5 million. The legal opinion from Cooley LLP confirms the validity of the securities being offered.