Tango Therapeutics raises $80M in PIPE financing at $5.15 per share

Tango Therapeutics, Inc.

Gross proceeds of ~$80M from sale of ~15.5M shares/pre-funded warrants at $5.15/share.
Financing led by Nextech, with participation from Boxer Capital, Bain Capital Life Sciences, Casdin Capital, EcoR1 Capital, Southpoint Capital, Third Rock Ventures, and a large institutional investor.
Proceeds expected to fund operations into 2026; extends runway for PRMT5 programs TNG908 and TNG462, and TNG260 trial.
Pre-funded warrants exercisable at $0.0001, immediately exercisable; company to file resale registration statement by Sep 1, 2023.
Directors and officers subject to 90-day lock-up agreements.

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

Tango Therapeutics, Inc. entered into Purchase Agreement with purchasers named therein valued at approximately $80 million (effective 2023-08-10).

Action: entry
Agreement: equity purchase
Counterparty: purchasers named therein
Value: approximately $80 million
Effective: 2023-08-10

Exact text from the filing

On August 10, 2023 Tango Therapeutics, 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) 13,196,671 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at $5.15 per Share, and (ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase 2,340,579 shares of Common Stock (the “Warrant Shares” and together with the Shares and the Pre-Funded Warrants, the “Securities”), at a purchase price of $5.1499 per Pre-Funded Warrant.

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38 material agreements filed in the last 30 days. Browse all material agreements →

Tango Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-208100

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