---
schema_version: "secwatch.filing_event.v1"
accession: "0001689548-23-000113"
form_type: "8-K"
ticker: "PRAX"
cik: "0001689548"
company_name: "Praxis Precision Medicines, Inc."
filed_at: "2023-06-16T23:59:59+00:00"
generated_at: "2026-06-13T22:51:52.824958+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Praxis terminates $125M ATM equity facility with Jefferies; had raised $42.7M

## Summary
- Terminated Open Market Sale Agreement with Jefferies on June 15, 2023; effective after 10 trading days.
- Facility allowed sales of up to $125M; company had sold 18,279,207 shares for $42.7M gross proceeds.
- No termination penalties; termination is at the company's discretion per Section 7(b).

## SEC filing metadata
- accession: 0001689548-23-000113
- form_type: 8-K
- ticker: PRAX
- cik: 0001689548
- company_name: Praxis Precision Medicines, Inc.
- filed_at: 2023-06-16T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1689548/000168954823000113/0001689548-23-000113-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1689548/000168954823000113/prax-20230615.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001689548-23-000113
- JSON: https://secwatch.observer/filing/0001689548-23-000113.json
- Plain text: https://secwatch.observer/filing/0001689548-23-000113.txt

## Key facts
- Material Agreements
  Praxis Precision Medicines, Inc. terminated Open Market Sale Agreement with Jefferies LLC (effective 2023-06-15).
  - Action: termination
  - Agreement: atm program
  - Counterparty: Jefferies LLC
  - Effective: 2023-06-15
  source text: On June 15, 2023, the Company delivered written notice to Jefferies to terminate the Sales Agreement pursuant to Section 7(b) thereof.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1689548/000168954823000113/0001689548-23-000113-index.htm

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