Denali raises $500M via PIPE at $17.07/share, adds pre-funded warrants

Denali Therapeutics Inc.

Gross proceeds of ~$500M from 3.2M shares at $17.07 and 26M pre-funded warrants at $17.06.
Proceeds to fund R&D, accelerate BBB-crossing Transport Vehicle technology, and working capital.
Lead investor is a U.S. healthcare-focused fund; close expected Feb 29, 2024.
Post-close estimated cash, equivalents, and investments ~$1.5B.
Investor with >10% ownership can appoint one board nominee under nominating agreement.

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

Denali Therapeutics Inc. entered into Purchase Agreement with the purchasers named therein valued at approximately $500 million (effective 2024-02-27).

Action: entry
Agreement: equity purchase
Counterparty: the purchasers named therein
Value: approximately $500 million
Effective: 2024-02-27

Exact text from the filing

On February 27, 2024, Denali Therapeutics Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with the purchasers named therein (the “Purchasers”), for the private placement (the “Private Placement”) of (i) 3,244,689 shares (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”), at $17.07 per Share, and (ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase 26,046,065 shares of Common Stock (the “Warrant Shares” and together with the Shares and the Pre-Funded Warrants, the “Securities”), at a purchase price of $17.06 per Pre-Funded Warrant.

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

Denali Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001714899-24-000075

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