Coya Therapeutics to sell 1.379M shares at $7.25 in private placement

Coya Therapeutics (COYA) announced that it has entered into definitive securities purchase agreements for the purchase and sale of an aggregate of 1.379M shares of its common stock in a private placement at a price of $7.25 per share. The offering is expected to close on or about October 23, subject to the satisfaction of customary closing conditions. The majority of investors in the offering are existing institutional stockholders of the company. The gross proceeds to the company from the private placement are expected to be approximately $10M, before deducting the placement agents’ fees and other offering expenses payable by the company. The company intends to use the net proceeds for general corporate purposes, including general and administrative expenses, working capital and to support preclinical, clinical and regulatory activities related to the company’s existing and future product candidate pipeline.