secwatch.observer — SEC 8-K summary
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Issuer:     Spyre Therapeutics, Inc. (SYRE)
CIK:        0001636282
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0001193125-24-069693
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 5.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1636282/000119312524069693/0001193125-24-069693-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1636282/000119312524069693/d784263d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-069693

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