Skye Bioscience raises $50.25M in PIPE led by 5AM Ventures; funds obesity Phase 2 trial

Skye Bioscience, Inc.

Private placement of 11.8M shares at $2.305 and pre-funded warrants for 9.98M shares at $2.3049.
Co-led by 5AM Ventures and another life science investor; includes Ally Bridge, Sphera, Altium, Driehaus.
Net proceeds expected to fund operations into early 2026, including nimacimab Phase 2 obesity trial starting mid-2024.
Phase 2a SBI-100 OE trial for glaucoma currently enrolling; interim data expected Q1 2024, topline Q2 2024.
Directors and officers subject to 90-day lock-up; registration rights agreement filed within 60 days.

item 1.01 item 3.02 item 7.01 item 8.01 item 9.01

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

Skye Bioscience, Inc. entered into Securities Purchase Agreement with certain institutional investors valued at $50,249,991 (effective 2024-01-29).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: $50,249,991
Effective: 2024-01-29

Exact text from the filing

On January 29, 2024, Skye Bioscience, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors (collectively, the “Investors”) to issue and sell at closing (i) an aggregate of 11,822,124 shares (the “Shares”) of common stock of the Company, par value $0.001 per share (the “Common Stock”), at a price of $2.305 per Share and (ii) pre-funded warrants (the “Pre-Funded Warrants” and together with the Shares, the “Closing Securities”) to purchase up to 9,978,739 shares of Common Stock (the “Warrant Shares” and together with the Shares and the Pre-Funded Warrants, the “Securities”), at a price of $2.3049 per Pre-Funded Warrant (the “Private Placement”).

View on SEC.gov

565 material agreements filed in the last 30 days. Browse all material agreements →

Skye Bioscience, Inc. filing history →

Source: SEC EDGAR

accession 0001516551-24-000002

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

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.