Soleno prices $120M combined public offering and private placement of common stock and pre-funded warrants

SOLENO THERAPEUTICS INC

Public offering of 3M shares at $20/share, gross ~$60M; underwriter option exercised for 450k additional shares.
Concurrent private placement of 1.825M shares and 1.175M pre-funded warrants at $20/share equivalent; total ~$60M.
Combined gross proceeds ~$120M; net to Soleno ~$64.5M from offering; expected close Oct 2, 2023.
Proceeds to advance lead candidate DCCR for Prader-Willi syndrome through late-stage development and regulatory approval.
Lead underwriters: Guggenheim, Cantor Fitzgerald, Oppenheimer; Laidlaw as lead manager.

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

SOLENO THERAPEUTICS INC entered into Securities Purchase Agreement with Adage Capital Partners LP, Commodore Capital, Frazier Life Sciences, Nantahala Capital, Perceptive Advisors, Woodline Partners LP, and other existing investors (effective 2023-09-28).

Action: entry
Agreement: equity purchase
Counterparty: Adage Capital Partners LP, Commodore Capital, Frazier Life Sciences, Nantahala Capital, Perceptive Advisors, Woodline Partners LP, and other existing investors
Effective: 2023-09-28

Exact text from the filing

on September 28, 2023, the Company entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) for a private placement (the “ Private Placement ”) with Adage Capital Partners LP, Commodore Capital, Frazier Life Sciences, Nantahala Capital, Perceptive Advisors, Woodline Partners LP, and other existing investors (each, a “ Purchaser ,” and collectively, the “ Purchasers ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SOLENO THERAPEUTICS INC entered into Underwriting Agreement with Guggenheim Securities, LLC, as representative of the several underwriters valued at approximately $64.5 million (effective 2023-09-28).

Action: entry
Agreement: underwriting
Counterparty: Guggenheim Securities, LLC, as representative of the several underwriters
Value: approximately $64.5 million
Effective: 2023-09-28

Exact text from the filing

On September 28, 2023, Soleno Therapeutics, Inc. (the “ Company ”) entered into an underwriting agreement (the “ Underwriting Agreement ”) with Guggenheim Securities, LLC, as representative of the several underwriters named in Schedule I thereto (the “ Underwriters ”) relating to the public offering (the “ Public Offering ”) of 3,000,000 shares of the Company’s common stock, $0.001 par value per share (the “ Common Stock ”), at a price to the public of $20.00 per share.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SOLENO THERAPEUTICS INC entered into Placement Agreement with Guggenheim Securities, LLC, Cantor Fitzgerald & Co., Oppenheimer & Co. Inc. and Laidlaw & Company (UK) Ltd. (effective 2023-09-28).

Action: entry
Agreement: underwriting
Counterparty: Guggenheim Securities, LLC, Cantor Fitzgerald & Co., Oppenheimer & Co. Inc. and Laidlaw & Company (UK) Ltd.
Effective: 2023-09-28

Exact text from the filing

In connection with the Private Placement, the Company entered into a placement agency agreement (the “ Placement Agreement ”) with Guggenheim Securities, LLC, Cantor Fitzgerald & Co., Oppenheimer & Co. Inc. and Laidlaw & Company (UK) Ltd. (collectively, the “ Placement Agents ”), which provides that the Company will pay the Placement Agents an aggregate of 6.0% of the gross proceeds raised in the Private Placement.

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

SOLENO THERAPEUTICS INC filing history →

Source: SEC EDGAR

accession 0001193125-23-247533

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