Celyad Oncology, a leading biotechnology company specializing in CAR-T technology, has recently announced a significant milestone in its financial strategy. The company has entered into a subscription agreement with CFIP CLYD (UK) Limited, an affiliate of Fortress Investment Group, for a private placement financing of €1 million. This financing will result in the issuance of 3,333,333 new ordinary shares of Celyad at a subscription price of EUR 0.30 per share, representing a 15% discount to the volume-weighted average price on Euronext Brussels.
The transaction is expected to close around August 5, 2025, and following the issuance, Fortress will hold approximately 58.51% of the company’s shares. The net proceeds from this placement will be utilized to support Celyad’s working capital and overall corporate objectives, extending its cash runway to mid Q4 2025. This development provides Celyad with additional time to explore strategic initiatives aimed at strengthening its financial position and advancing its innovative CAR-T technology platforms. For more information on Celyad Oncology and Fortress Investment Group, please visit their respective websites.
Read more from finance.yahoo.com