Cue Biopharma Prices Public Offering of 35.7 Million Shares, Raising Approximately $10 Million

Cue Biopharma announced the pricing of an underwritten public offering of 35,714,286 shares of its common stock and accompanying common stock warrants to purchase an aggregate of 17,857,143 shares of common stock. Each share of common stock and accompanying common stock warrant are being sold together at a combined public offering price of $0.28. The aggregate gross proceeds of the offering are expected to be approximately $10 million, before deducting underwriting discounts and commissions and other offering expenses. Each common stock warrant will have an exercise price of $0.30 per share, will be exercisable immediately and will expire five years from the date of issuance. The offering is expected to close on or about December 22, 2025, subject to satisfaction of customary closing conditions. In addition, Cue Biopharma has granted the underwriters an option for a period of 30 days to purchase up to an additional 5,357,140 shares of its common stock and/or warrants to purchase up to 2,678,570 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the securities are being offered by Cue Biopharma. H.C. Wainwright & Co. is acting as sole book-running manager for the offering. Newbridge Securities Corporation is acting as co-manager for the offering.