---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-097078"
form_type: "8-K"
ticker: "SABS"
cik: "0001833214"
company_name: "SAB Biotherapeutics, Inc."
filed_at: "2025-07-21T23:59:59+00:00"
generated_at: "2026-05-18T05:15:19.964755+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# SAB Bio raises $175M in oversubscribed private placement; Sanofi participates; cash runway into mid-2028

## Summary
- Gross proceeds of $175M from sale of Series B convertible preferred stock and warrants; conversion price $1.75 per common share.
- Investors include strategic partner Sanofi, RA Capital, Commodore Capital, Vivo Capital, Blackstone Multi-Asset, and others.
- Proceeds to fully fund Phase 2b SAFEGUARD study of SAB-142 in Stage 3 T1D and extend cash runway into middle of 2028.
- Warrants exercisable for up to 1.5M additional preferred shares, potentially yielding additional $284M in gross proceeds.
- Company received FDA alignment on Phase 2b SAFEGUARD trial design during a Type B meeting on May 29, 2025.

## SEC filing metadata
- accession: 0000950170-25-097078
- form_type: 8-K
- ticker: SABS
- cik: 0001833214
- company_name: SAB Biotherapeutics, Inc.
- filed_at: 2025-07-21T23:59:59+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, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1833214/000095017025097078/0000950170-25-097078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1833214/000095017025097078/sabs-20250721.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-097078
- JSON: https://secwatch.observer/filing/0000950170-25-097078.json
- Plain text: https://secwatch.observer/filing/0000950170-25-097078.txt

## Key facts
- Governance Changes
  SAB Biotherapeutics, Inc.: Filed Certificate of Designations creating Series B Convertible Preferred Stock (effective 2025-07-21).
  - Change: charter amendment
  - Effective: 2025-07-21
  source text: Pursuant to the terms of the Securities Purchase Agreement, on July 21, 2025, the Company filed the Certificate of Designations with the Delaware Secretary of State designating 2,811,429 shares of its authorized and unissued preferred stock as Series B Convertible Preferred Stock.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000095017025097078/0000950170-25-097078-index.htm

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