Shearman & Sterling represented ContraFect Corporation in connection with its initial public offering of 6,000,000 Units, with each Unit consisting of one share of common stock, one Class A Warrant to purchase one share of common stock and one Class B Warrant to purchase one-half share of common stock. The Units were sold to the public at a price of $6.00 per Unit for total gross proceeds of $36,000,000. The Units and their constituent securities are or will be listed on the Nasdaq Capital Market under the symbols “CFRXU,” “CFRX,” “CFRXW” and “CFRXZ.”
ContraFect Corporation is a biotechnology company focused on discovering and developing therapeutic protein and antibody products for life-threatening, drug-resistant infectious diseases, particularly those treated in hospital settings. The company’s most advanced product candidates are CF-301, a lysin for the treatment of Staph aureus bacteremia, and CF-404, a combination of monoclonal antibodies for the treatment of seasonal and pandemic varieties of influenza. The proceeds from the initial public offering will be used to fund pre-clinical and early stage clinical development of CF-301 and CF 404, to fund other research and development, to build the company’s product platform and for working capital and general corporate purposes.
The following Shearman & Sterling team advised ContraFect: partners JD DeSantis (New York-Capital Markets/Finance), Chris Forrester (Palo Alto-Capital Markets), John Cannon (New York-Compensation, Governance & ERISA), and Daniel Laguardia (New York-Litigation); of counsel Mark Kessel (New York-Capital Markets); counsel Amy Kläsener (Frankfurt-International Arbitration); and associates Jesse Cuevas (San Francisco-Capital Markets), Andrew Vinci (New York-Capital Markets), Gary Tashjian (New York-Compensation, Governance & ERISA), Jacob Bittón (New York-Corporate) and Scott Lucas (San Francisco-Corporate).