ORIC raises $85M in private placement led by Nextech at $7.00/share

Oric Pharmaceuticals, Inc.

Gross proceeds ~$85M from sale of ~12.1M shares/pre-funded warrants at $7.00/share (15% premium to 30-day VWAP).
Investors include Nextech, EcoR1 Capital, Frazier Life Sciences, Venrock Healthcare Capital Partners, Boxer Capital.
Proceeds plus existing cash expected to fund operations into late 2025; lock-up until data readout or Dec 31, 2023.
Registration statement for resale to be filed by Jan 31, 2024; closing expected June 27, 2023.
Upcoming data: ORIC-114/533 in H2 2023, ORIC-944 in Q1 2024.

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

Oric Pharmaceuticals, Inc. entered into Securities Purchase Agreement with the Purchasers named therein valued at approximately $85 million aggregate gross proceeds (effective 2023-06-24).

Action: entry
Agreement: equity purchase
Counterparty: the Purchasers named therein
Value: approximately $85 million aggregate gross proceeds
Effective: 2023-06-24

Exact text from the filing

On June 24, 2023, ORIC Pharmaceuticals, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with the purchasers named therein (the “Purchasers”), for the private placement (the “Private Placement”) of (i) 9,285,710 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at $7.00 per Share, and (ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase 2,857,142 shares of Common Stock (the “Warrant Shares” and together with the Shares and the Pre-Funded Warrants, the “Securities”), at a purchase price of $6.9999 per Pre-Funded Warrant.

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Oric Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-175501

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