- Kymera Therapeutics ( NASDAQ: KYMR ) signed an agreement with certain existing and new investors to raise gross proceeds of ~$150M.
- The company will sell ~2.77M common shares at $26 apiece and pre-funded warrants to buy up to 3M shares at $25.9999 per pre-funded warrant share in the private investment in public equity (PIPE) financing.
- The pre-funded warrants will have an exercise price of $0.0001 per share.
- The company expects to use the funds for research and development activities, general corporate purposes and working capital.
- The offering was led by a U.S.-based healthcare-focused fund, and by Biotechnology Value Fund with participation from Avoro Capital Advisors, EcoR1 Capital, Redmile Group, Rock Springs Capital and funds and accounts advised by T. Rowe Price Associates.
- The financing is expected to close on Aug. 22.
- KYMR -4.98% to $27.64 premarket Aug. 19
For further details see:
Kymera stock dips on plans to raise $150M via equity financing