m_and_a
confidence high
sentiment neutral
materiality 1.00
Sensei Biotherapeutics closes merger with Faeth and $200M PIPE; existing holders diluted to ~4.9%
Sensei Biotherapeutics, Inc.
- Issued ~10,602 Series B Preferred shares (each convertible into 1,000 common) to acquire Faeth; pre-PIPE: Faeth holders ~89.3%, Sensei ~10.7%.
- Sold 14,440 Series B Preferred shares in $200M PIPE; post-PIPE: PIPE investors ~54.3%, Faeth ~40.8%, Sensei ~4.9%.
- Anand Parikh (ex-Faeth CEO) appointed as COO and director; granted 1,239,305 option inducement award vesting over 4 years.
- Certificate of Designation filed; conversion of Series B requires stockholder approval and beneficial ownership limits of 4.99%-19.99%.