Regulus Therapeutics Raises $15M Private Placement Equity
San Diego-based biopharma company Regulus Therapeutics has entered into a securities purchase agreement in connection with a private placement to certain institutional and other accredited investors.
The financing was led by the Federated Hermes Kaufmann Funds and New Enterprise Associates, with participation from additional existing shareholders. Upon closing, the company expects to receive gross proceeds of approximately $15 million.
Investors will purchase 2,615,536 shares of the company’s stock at $0.9001 per share. Certain investors have also agreed to purchase, in lieu of shares of stock, an aggregate of 140,827 shares of newly designated, non-voting Class A-5 convertible preferred stock at $90.01 per share. Each share of non-voting Class A–5 convertible preferred stock will be convertible into 100 shares of common stock.
SVB Securities is acting as the lead placement agent for the financing. H.C. Wainwright & Co. is acting as a co-placement agent for the financing.
