NantKwest Announces Proposed Public Offering of Common Stock

NantKwest, Inc. (Nasdaq: NK), a clinical-stage, natural killer cell-based therapeutics company, today announced that it intends to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. In addition, NantKwest expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the offering. NantKwest intends to use the net proceeds of the offering for clinical development, manufacturing, upgrades to its facilities and equipment, and other working capital, capital expenditures and for general corporate purposes. All of the shares are being offered by NantKwest. There can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

Piper Sandler & Co. is acting as the sole bookrunning manager for the offering. LifeSci Capital is acting as co-manager for the offering.

A shelf registration statement on Form S-3 relating to the common stock offered in the public offering described above was filed with the Securities and Exchange Commission (SEC) on August 23, 2019 and declared effective by the SEC on September 3, 2019. The proposed offering is being made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering, when available, may also be obtained from Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, via telephone at (800) 747-3924 or via email at prospectus@psc.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered 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 other jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding NantKwest’s expectations with respect to the completion, timing and size of the proposed public offering, the grant to the underwriters of an option to purchase additional shares and the anticipated use of the net proceeds from the proposed offering. Risks and uncertainties related to these endeavors include, but are not limited to, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed public offering.

Forward-looking statements are based on management’s current expectations and are subject to various risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by such forward-looking statements. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements.

These and other risks regarding NantKwest’s business are described in detail in its SEC filings, including in NantKwest’s Current Report on Form 8-K to be filed on June 24, 2020. These forward-looking statements speak only as of the date hereof, and we disclaim any obligation to update these statements except as may be required by law.

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