Arvinas raises ~$350M in oversubscribed private placement of common stock and pre-funded warrants

On November 24, 2023, Arvinas, Inc., a Delaware corporation (the " Company "), entered into a securities purchase agreement (the " Securities Purchase Agreement ") with certain institutional accredited investors (the " Investors "), pursuant to which the Company agreed to issue and sell to the Investors in a private placement an aggregate of 12,963,542 shares of the Company’s common stock, par value $0.001 per share (the " Shares "), at a price of $21.36 per share, and, to one Investor in lieu of Shares, pre-funded warrants to purchase 3,422,380 shares of the Company’s common stock (the " Pre-Funded Warrants "), at a price of $21.359 per Pre-Funded Warrant (the " Private Placement ").

Also on November 24, 2023, the Company entered into a registration rights agreement (the " Registration Rights Agreement ") with the Investors, pursuant to which the Company agreed to register for resale the Shares and the shares of the Company’s common stock issuable upon exercise of the Pre-Funded Warrants (the " Pre-Funded Warrant Shares " and, together with the Shares, the " Registrable Securities ").