Xencor enters into $200M ATM equity offering program with SVB Securities

Xencor Inc

Up to $200M of common stock may be sold at the market through SVB Securities under Sales Agreement dated Feb 27, 2023.
Sales agent compensation capped at 3.0% of gross proceeds; net proceeds for R&D, capex, working capital.
Company not obligated to sell any shares; program can be suspended or terminated by either party at any time.
No current acquisition plans, though proceeds could be used for investments in complementary businesses.

item 1.01 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

Xencor Inc entered into Sales Agreement with SVB Securities LLC valued at up to $200 million (effective 2023-02-27).

Action: entry
Agreement: atm program
Counterparty: SVB Securities LLC
Value: up to $200 million
Effective: 2023-02-27

Exact text from the filing

On February 27, 2023, Xencor, Inc. (the “Company”) entered into a Sales Agreement (the “Sales Agreement”) with SVB Securities LLC (the “Sales Agent”), pursuant to which the Company may issue and sell through the Sales Agent up to $200 million of shares of common stock

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Xencor Inc filing history →

Source: SEC EDGAR

accession 0001628280-23-005593

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