Tyra Bioscience (TYRA) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Tyra Biosciences, Inc. has initiated a $200 million private placement by agreeing to sell over 9 million shares and pre-funded warrants for additional shares at $13.01 each. This strategic move, set to close on February 6, 2024, will support the clinical development of its drug candidates TYRA-300 and TYRA-200, along with other corporate purposes. The pre-funded warrants, exercisable immediately, come with ownership limitations to prevent a single holder from having excessive control, but these may be adjusted with notice. The company also plans to facilitate the resale of these securities by filing a registration statement with the SEC.
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For a comprehensive understanding of the announcement, you can read the full document here.
