Relay Therapeutics raises $30M in PIPE with Nextech; proceeds for RLY-2608 development

Relay Therapeutics, Inc.

2.5M shares sold at $12.00 each (premium to Jan 5 close); gross proceeds ~$30M.
PIPE expected to close Jan 10, 2024; Nextech Crossover I SCP is the investor.
Proceeds to advance RLY-2608 toward registrational trial(s) and preclinical pipeline.
Company plans to disclose at least one new Dynamo platform program later in 2024.
Resale registration statement to be filed within 15 business days.

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Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Relay Therapeutics, Inc. entered into securities purchase agreement with Nextech Crossover I SCP valued at 2,500,000 shares at $12.00 per share for aggregate gross proceeds of approximately $30 million (effective 2024-01-08).

Action: entry
Agreement: equity purchase
Counterparty: Nextech Crossover I SCP
Value: 2,500,000 shares at $12.00 per share for aggregate gross proceeds of approximately $30 million
Effective: 2024-01-08

Exact text from the filing

On January 8, 2024, Relay Therapeutics, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with Nextech Crossover I SCP (the “Purchaser”), for the private placement (the “Private Placement”) of 2,500,000 shares (the “PIPE Shares”) of the Company’s common stock, $0.001 par value per share (the “Common Stock”), at $12.00 per share.

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Relay Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-002682

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