Savara prices $80M underwritten offering of common stock and pre-funded warrants at $3.00/share

Savara Inc

Offering of 21M common shares at $3.00/share and 5.67M pre-funded warrants at $2.999/warrant for $80M gross proceeds.
Expected close July 17, 2023; Jefferies and Piper Sandler are joint book-runners.
New investors include TCGX, Frazier Life Sciences, Janus Henderson; existing investors Bain, NEA, Adage, Venrock participating.
Securities offered under effective shelf registration statement (File No. 333-257709).
Proceeds to fund clinical development and working capital (implied for clinical-stage rare respiratory disease company).

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

Savara Inc entered into Underwriting Agreement with Jefferies LLC and Piper Sandler & Co., as representatives of the several underwriters named therein (effective 2023-07-12).

Action: entry
Agreement: underwriting
Counterparty: Jefferies LLC and Piper Sandler & Co., as representatives of the several underwriters named therein
Effective: 2023-07-12

Exact text from the filing

On July 12, 2023, Savara Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Jefferies LLC and Piper Sandler & Co., as representatives of the several underwriters named therein (the “Underwriters”), pursuant to which the Company agreed to issue and sell (i) an aggregate of 21,000,000 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), and (ii) pre-funded warrants to purchase an aggregate of 5,666,667 shares of Common Stock with an exercise price of $0.001 per share (the “Pre-Funded Warrants”), to the Underwriters in an underwritten offering (the “Offering”).

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Source: SEC EDGAR

accession 0001193125-23-186640

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