ORIC raises $125M in private placement; extends cash runway into late 2026

Oric Pharmaceuticals, Inc.

Sold 12.5M shares at $10.00 each; gross proceeds approx. $125M.
Investors include Viking Global, Commodore, Frazier, Venrock, NEA, Nextech.
Premium of ~10% to ORIC's 5-day trailing average price.
Pro forma cash expected to fund operating plan into late 2026.
Private placement expected to close on January 23, 2024.

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

Oric Pharmaceuticals, Inc. entered into Purchase Agreement with the purchasers named therein valued at 12,500,000 shares at $10.00 per Share, approximately $125 million aggregate gross proceeds (effective 2024-01-20).

Action: entry
Agreement: equity purchase
Counterparty: the purchasers named therein
Value: 12,500,000 shares at $10.00 per Share, approximately $125 million aggregate gross proceeds
Effective: 2024-01-20

Exact text from the filing

On January 20, 2024, ORIC Pharmaceuticals, Inc. (the “Company”) entered into a stock purchase agreement (the “Purchase Agreement”) with the purchasers named therein (the “Purchasers”), for the private placement (the “Private Placement”) of 12,500,000 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at $10.00 per Share.

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Oric Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-011747

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