Celyad Oncology SA (NASDAQ: CYAD) disclosed that it has signed an equity buying deal with Lincoln Park Capital. The Buying Contract which lasts for 24-months will allow Celyad to use the profit from sales of ADSs for the general purpose of the firm. The firm is planning to use the profits for R&D and clinical and preclinical CAR T cell therapy candidates of CYAD.

As per the buying contract, Celyad will allow LPC to acquire up to the total amount of $40 million ADS. Each ADS signifies the one ordinary share of the firm. After entering into the buying deal with CYAD, LPC got a pledge payment of $1 million consisted of $600,000 in cash and $400,000 in the form of a discount on the original buying of $2 million of ADSs under the company's share capital provision.

Celyad Oncology SA (NASDAQ: CYAD) shares traded up 4.63% during the trading session of Wednesday. CYAD has a trading volume of $3.89K as compared to the average volume of 9.16K. In the past 52-weeks of trading, this firm's share fluctuated from a low point around $4.10 and a high point around $13.01. Its shares traded up 109.51% from its 52-weeks low and moved down -33.97% from its 52-weeks high.

Now looking at the terms of the Purchase Contract, the greatest possible pledge under any single ordinary buying must not surpass $2.5 million of LPC, except to the extent that both parties equally accept to raise the maximum amount of such buying.

Under the term of the contract, the buying price of ADSs by LPC will be equal to the lower of the minimum sale price for ADSs on the appropriate buying date. Furthermore, the average of the three minimum closing transaction prices for ADSs during the ten working days before the date of buying.