Arcellx announces increased size and pricing of follow-on public offering

— Public offering of 7,000,000 common shares for gross proceeds of $112 million

REDWOOD City, California, June 15, 2022 /PRNewswire/ — Arcellx, Inc. (NASDAQ: ACLX), a biotechnology company reinventing cell therapy by developing innovative immunotherapies for patients with cancer and other terminal diseases, today announced the price of a subscribed follow-on offer increased by 7,000,000 ordinary shares at a public price of $16.00 per share. The offer was increased to 7,000,000 common shares of Arcellx from the original offer size of 4,000,000 shares. The gross proceeds of the offering, before deducting underwriting rebates and commissions and other offering costs payable by Arcellx, are expected to be $112 million. In addition, Arcellx has granted the underwriters a 30-day option to purchase up to 1,050,000 additional common shares on the same terms. The offer is expected to close on June 21, 2022, subject to satisfaction of customary closing conditions. All shares in the proposed offer will be sold by Arcellx.

Company Logo (PRNewsfoto/Arcellx, Inc)

BofA Securities, SVB Securities, William Blair and Canaccord Genuity are acting as joint bookrunners for the offering.

Registration statements relating to the offering have been filed with the Securities and Exchange Commission and are effective today. The offering is being made solely by means of a prospectus, copies of which may be obtained, when available, from: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; or SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by phone at 1-800-808-7525, ext. 6105, or by email at syndicate@svbsecurities.com. William Blair & Company, LLC, Attn: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by phone at 1-800-621-0687, or by email at prospectus@williamblair.com; or Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, or by phone at (617) 371-3900, or by email at prospectus@cgf.com. Copies of the final prospectus, when available, relating to the offering will be available at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or territory.

About Arcellx, Inc.

Arcellx, Inc. is a clinical-stage biotechnology company reinventing cell therapy by designing innovative immunotherapies for patients with cancer and other life-threatening diseases. Arcellx believes that cell therapies are one of the advanced pillars of medicine and Arcellx’s mission is to advance humanity by developing safer, more effective and more widely available cell therapies. Arcellx’s lead product candidate, CART-ddBCMA, is being developed for the treatment of relapsed or refractory multiple myeloma (r/r MM) in an ongoing Phase 1 study. CART-ddBCMA has been granted Fast Track, Orphan Drug, and Regenerative Medicine Advanced Therapy designations by the United States Food and Drug Administration.

Arcellx is also advancing its doseable and controllable CAR-T therapy, ARC-SparX, through two programs: a Phase 1 study of ACLX-001 for r/r MM, initiated in the second quarter of 2022; and ACLX-002 in relapsed or refractory acute myeloid leukemia and high-risk myelodysplastic syndrome, which is expected to enter the clinic in the second half of 2022.

Forward-looking statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this press release that are not purely historical are forward-looking statements. The forward-looking statements contained herein are based on Arcellx’s current expectations and involve assumptions which may never materialize or may prove to be incorrect. These forward-looking statements are neither promises nor guarantees and are subject to a variety of risks and uncertainties, including the risks that can be found in the section entitled “Risk Factors” in the documents that Arcellx files from time another with the Securities and Exchange Commission. and in Form S-1 for this offering, as filed with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this press release, and Arcellx undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except if required by law.

For more information please contact:

Myesha Lacy
Arcellx, Inc.
mlacy@arcellx.com

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SOURCEArcellx, Inc

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