Spyre Therapeutics announces $180M private placement of convertible preferred stock

Spyre Therapeutics, Inc.

Spyre raises ~$180M via PIPE: 121,625 Series B convertible preferred shares at $1,480 each.
Series B convertible into 4,865,000 common shares (40:1), subject to stockholder approval and beneficial ownership limits.
PIPE includes new and existing investors; expected close on March 20, 2024.
Proceeds to fund pipeline programs and extend cash runway well into 2027.
Authorized Series B shares increased from 150,000 to 271,625 via Certificate of Amendment.

item 1.01 item 5.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Spyre Therapeutics, Inc.: Increased authorized shares of Series B Preferred Stock from 150,000 to 271,625 (effective 2024-03-18).

Change: charter amendment
Effective: 2024-03-18

Exact text from the filing

The Certificate of Amendment increases the number of authorized shares of the Company's Series B Preferred Stock from 150,000 to 271,625.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Spyre Therapeutics, Inc. entered into Securities Purchase Agreement with certain institutional and accredited investors valued at approximately $180.0 million (effective 2024-03-18).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional and accredited investors
Value: approximately $180.0 million
Effective: 2024-03-18

Exact text from the filing

On March 18, 2024, 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 (each, a " Purchaser " and collectively, the " Purchasers ").

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Spyre Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-069693

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This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.