secwatch.observer — SEC 8-K summary
======================================

Issuer:     Spyre Therapeutics, Inc. (SYRE)
CIK:        0001636282
Form:       8-K
Filed at:   2023-12-08T23:59:59+00:00
Accession:  0001193125-23-291257
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 5.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1636282/000119312523291257/0001193125-23-291257-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1636282/000119312523291257/d577229d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-291257

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