---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-069693"
form_type: "8-K"
ticker: "SYRE"
cik: "0001636282"
company_name: "Spyre Therapeutics, Inc."
filed_at: "2024-03-18T23:59:59+00:00"
generated_at: "2026-06-04T15:13:57.890172+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-24-069693
- form_type: 8-K
- ticker: SYRE
- cik: 0001636282
- company_name: Spyre Therapeutics, Inc.
- filed_at: 2024-03-18T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1636282/000119312524069693/0001193125-24-069693-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1636282/000119312524069693/d784263d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-069693
- JSON: https://secwatch.observer/filing/0001193125-24-069693.json
- Plain text: https://secwatch.observer/filing/0001193125-24-069693.txt

## Key facts
- Governance Changes
  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
  source text: The Certificate of Amendment increases the number of authorized shares of the Company's Series B Preferred Stock from 150,000 to 271,625.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1636282/000119312524069693/0001193125-24-069693-index.htm
- Material Agreements
  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
  source text: 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 ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1636282/000119312524069693/0001193125-24-069693-index.htm

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