---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-051127"
form_type: "8-K"
ticker: "SABS"
cik: "0001833214"
company_name: "SAB Biotherapeutics, Inc."
filed_at: "2023-10-02T23:59:59+00:00"
generated_at: "2026-06-10T06:30:33.569730+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# SAB Biotherapeutics announces up to $130M private placement led by RA Capital to fund SAB-142 T1D trial

## Summary
- Initial closing of $7.5M from Series A-1 Preferred; potential total $130M via warrants and further tranches.
- Funds to advance SAB-142 into Phase II for type 1 diabetes; Phase I expected Q4 2023.
- Investors include RA Capital, BVF Partners, Sessa Capital, Commodore Capital, RTW Investments, Marshall Wace, JDRF T1D Fund.
- Andrew Moin (Sessa Capital) appointed to Board of Directors effective upon closing.
- Preferred stock convertible at $0.63/share; requires stockholder approval; warrants exercisable for additional shares.

## SEC filing metadata
- accession: 0000950170-23-051127
- form_type: 8-K
- ticker: SABS
- cik: 0001833214
- company_name: SAB Biotherapeutics, Inc.
- filed_at: 2023-10-02T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1833214/000095017023051127/0000950170-23-051127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1833214/000095017023051127/sabs-20230929.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-051127
- JSON: https://secwatch.observer/filing/0000950170-23-051127.json
- Plain text: https://secwatch.observer/filing/0000950170-23-051127.txt

## Key facts
- Executive change
  Andrew D. Moin was appointed as Director at SAB Biotherapeutics, Inc..
  - Action: appointed
  - Role: Director
  source text: the Company’s Board of Directors approved the appointment of Andrew D. Moin, of Sessa Capital (Master), L.P., to the Company’s Board of Directors, effective upon the closing of the Offering.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000095017023051127/0000950170-23-051127-index.htm
- Governance Changes
  SAB Biotherapeutics, Inc.: Filed Certificate of Designation creating Series A-1, A-2, and A-3 Convertible Preferred Stock with specified rights, preferences, and limitations (effective 2023-10-02).
  - Change: charter amendment
  - Effective: 2023-10-02
  source text: On October 2, 2023, the Company filed the Certificate of Designation with the Delaware Secretary of State designating 78,000 shares of its authorized and unissued preferred stock as Series A-1 Preferred Stock, 78,000 shares as Series A-2 Preferred Stock and 252,000 shares as Series A-3 Convertible Preferred Stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000095017023051127/0000950170-23-051127-index.htm
- Material Agreements
  SAB Biotherapeutics, Inc. entered into Securities Purchase Agreement with certain accredited investors valued at aggregate offering price of $7.5 million; aggregate exercise prices of approximately $70.5 million, (effective 2023-09-29).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain accredited investors
  - Value: aggregate offering price of $7.5 million; aggregate exercise prices of approximately $70.5 million,
  - Effective: 2023-09-29
  source text: On September 29, 2023, SAB Biotherapeutics, Inc. (the " Company ") entered into a securities purchase agreement (the " Securities Purchase Agreement ") with certain accredited investors (the " Investors "), pursuant to which the Company agreed to issue and sell, in a private placement (the " Offering "), (i) 7,500 shares of Series A-1 Convertible Preferred Stock, par value $0.0001 per share, for an aggregate offering price of $7.5 million (the " Series A-1 Preferred Stock "), (ii) tranche A warrants (the " Preferred Tranche A Warrants ") to acquire shares of Series A-1 Preferred Stock or Series A-3 Preferred Stock, par value $0.0001 per share, for an aggregate exercise price of $70.5 million (the " Series A-3 Preferred Stock "), (iii) tranche B warrants to acquire shares of Series A-3 Preferred Stock, par value $0.0001 per share, for an aggregate exercise price of $52.0 million (the " Preferred Tranche B Warrants "), and (iv) tranche C warrants to purchase Series A-3 Preferred Stock, p
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000095017023051127/0000950170-23-051127-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.