secwatch.observer — SEC 8-K summary
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Issuer:     IO Biotech, Inc. (IOBTQ)
CIK:        0001865494
Form:       8-K
Filed at:   2023-08-07T23:59:59+00:00
Accession:  0001193125-23-204538
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IO Biotech raises ~$75M in private placement; cash runway extended to Q4 2025
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- Gross proceeds of ~$75.1M from sale of 37.1M shares and warrants at $2.025 combined price.
- Warrants to purchase 37.1M shares at $2.47, exercisable for 42 months from issuance.
- Institutional investors include Lundbeckfonden BioCapital, Novo Holdings, Vivo Capital, and others.
- Joint placement agents are Morgan Stanley and Piper Sandler, earning ~6% fee.
- Management expects cash to fund operations into Q4 2025, supporting pivotal Phase 3 and Phase 2 trials.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1865494/000119312523204538/0001193125-23-204538-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1865494/000119312523204538/d493270d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-204538

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer