Tenaya Therapeutics (TNYA) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Tenaya Therapeutics, Inc. has struck a deal with underwriters, led by Leerink Partners LLC and Cowen and Company, LLC, to sell over 8.8 million shares and more than 2.2 million pre-funded warrants, aiming to raise around $50 million. The shares and warrants are set to be sold at $4.50 and $4.499 respectively, with the closing expected by February 12, 2024. This move, part of a registered direct offering, is underpinned by agreements that include standard terms, indemnifications, and a 60-day lock-up period for certain stockholders. Pre-funded warrants have an exercise price of $0.001 and provisions for adjustments in case of stock events, with certain ownership and exercise limitations.
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For a comprehensive understanding of the announcement, you can read the full document here.
