Nektar Therapeutics raises $30M via pre-funded warrant to TCG Crossover Fund

NEKTAR THERAPEUTICS

Issued pre-funded warrant to purchase 25M shares of common stock at $1.20 per share, total $30M.
Exercise price of warrant is $0.0001 per share; purchaser cannot exceed 9.99% beneficial ownership without notice.
Closing expected on or before March 6, 2024; exempt from registration under Section 4(a)(2) and Rule 506(b).
Company to file resale registration statement for warrant shares within 90 days after closing.
Use of proceeds not specified; proceeds before expenses are $30M.

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

NEKTAR THERAPEUTICS entered into Purchase Agreement with TCG Crossover Fund II, L.P. valued at $30.0 million (effective 2024-03-04).

Action: entry
Agreement: equity purchase
Counterparty: TCG Crossover Fund II, L.P.
Value: $30.0 million
Effective: 2024-03-04

Exact text from the filing

On March 4, 2024, Nektar Therapeutics (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with TCG Crossover Fund II, L.P. (the “Purchaser”), for the private placement (the “Private Placement”) of a pre-funded warrant (the “Pre-Funded Warrant”) to purchase 25,000,000 shares of the Company’s common stock (the “Common Stock”), par value $0.0001 per share (the “Warrant Shares” and together with the Pre-Funded Warrant, the “Securities”), at a total purchase price of $30.0 million

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Source: SEC EDGAR

accession 0001193125-24-056966

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