---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-291257"
form_type: "8-K"
ticker: "SYRE"
cik: "0001636282"
company_name: "Spyre Therapeutics, Inc."
filed_at: "2023-12-08T23:59:59+00:00"
generated_at: "2026-06-07T15:37:57.213941+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Spyre raises $180M PIPE via 6M common shares at $15 and 150K Series B convertible preferred

## Summary
- 6,000,000 common shares at $15/share and 150,000 Series B preferred shares at $600/share (convertible into 40 common each).
- Gross proceeds ~$180M; closing expected Dec 11, 2023; net proceeds to fund pipeline and extend cash runway into H2 2026.
- Investor group includes Access Biotechnology, Venrock, Perceptive Advisors, RTW Investments, Braidwell, Fairmount, Cormorant, Polar Capital, Boxer Capital, Deep Track Capital, and others.
- Jefferies, TD Cowen, Stifel, Guggenheim, and LifeSci Capital acted as joint placement agents.
- Series B preferred is non-voting; converts automatically upon stockholder approval, subject to 19.9% beneficial ownership cap.

## SEC filing metadata
- accession: 0001193125-23-291257
- form_type: 8-K
- ticker: SYRE
- cik: 0001636282
- company_name: Spyre Therapeutics, Inc.
- filed_at: 2023-12-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1636282/000119312523291257/0001193125-23-291257-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1636282/000119312523291257/d577229d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-291257
- JSON: https://secwatch.observer/filing/0001193125-23-291257.json
- Plain text: https://secwatch.observer/filing/0001193125-23-291257.txt

## Key facts
- Governance Changes
  Spyre Therapeutics, Inc.: Certificate of Designation filed for Series B Non-Voting Convertible Preferred Stock (effective 2023-12-08).
  - Change: charter amendment
  - Effective: 2023-12-08
  source text: On December 8, 2023, the Company filed a Certificate of Designation of Preferences, Rights and Limitations of the Series B Non-Voting Convertible Preferred Stock with the Secretary of State of the State of Delaware (the “ Certificate of Designation ”) in connection with the Private Placement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1636282/000119312523291257/0001193125-23-291257-index.htm
- Material Agreements
  Spyre Therapeutics, Inc. entered into Securities Purchase Agreement with certain institutional and accredited investors valued at $180.0 million (effective 2023-12-07).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain institutional and accredited investors
  - Value: $180.0 million
  - Effective: 2023-12-07
  source text: On December 7, 2023, Spyre Therapeutics, Inc., a Delaware corporation (the “ Company ”), entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) for a private placement (the “ Private Placement ”) with certain institutional and accredited investors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1636282/000119312523291257/0001193125-23-291257-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.