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AGTC Announces Pricing of Public Offering of Common Stock and WarrantsGAINESVILLE, Fla., and CAMBRIDGE, Mass., Jan. 28, 2021 (GLOBE NEWSWIRE) -- Applied Genetic Technologies Corporation (Nasdaq: AGTC), a biotechnology company conducting human clinical trials of adeno-associated virus (AAV)-based gene therapies for the treatment of rare diseases, today announced the pricing of its previously announced underwritten public offering of 16,741,573 shares of its common stock, together with accompanying warrants to purchase 8,370,786 shares of common stock. The common stock will be sold in combination with an accompanying warrant to purchase 0.5 of a share of common stock issued for each share of common stock sold. The combined offering price to the public of each share of common stock and accompanying warrant is $4.45. The warrants must be exercised in integral multiples of two and will have an exercise price of $6.00 per share, will be immediately exercisable and will have a term of five years from the date of issuance. The gross proceeds to AGTC from this offering are expected to be approximately $74.5 million, before deducting underwriting discounts and commissions and other offering expenses payable by AGTC. All of the securities are being sold by AGTC. The offering is expected to close on or about February 1, 2021, subject to customary closing conditions. Stifel, Wells Fargo Securities and MTS Health Partners are acting as joint book-running managers of the offering, H.C. Wainwright & Co. is acting as lead manager for the offering and Roth Capital Partners is acting as co-manager for the offering. AGTC intends to use the net proceeds from this offering, together with other available funds, to fund its ongoing Skyline and Vista clinical trials in its X-linked retinitis pigmentosa (XLRP) program and its ongoing Phase 1/2 clinical trials in its Achromatopsia (ACHM) program, and for working capital and other general corporate purposes. A registration statement relating to the shares of common stock and accompanying warrants being offered has been filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on January 27, 2021. A final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus, when available, may be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at [email protected]; Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, NY 10001, by telephone at (800) 326-5897 or by email at [email protected]; or MTS Securities, LLC, Attention: Syndicate Department, 623 Fifth Avenue, 14th Floor, New York, NY 10022, by telephone at (212) 887-2100 or by email at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Forward-Looking Statements About AGTC IR/PR CONTACTS: Corporate Contacts: Stephen Potter |