Orchestra BioMed raises ~$56M via public offering and private placement; grants warrant

Orchestra BioMed Holdings, Inc.

Public offering of 9,413,637 shares at $2.75/sh + pre-funded warrants for 5,136,363 shares at $2.7499; gross $40M.
Underwriters granted 30-day option for up to 2,182,500 additional shares at same price.
Concurrent private placement: 5,895,608 shares to Ligand and Medtronic affiliate for ~$16.2M.
Ligand receives warrant for up to 2M shares at $3.67, issued upon closing of placement.
Proceeds to fund AVIM therapy BACKBEAT study, Virtue SAB program/trial, and general corporate.

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