Tenaya Therapeutics Announces Pricing of Underwritten Offering
SOUTH SAN FRANCISCO, Calif., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Tenaya Therapeutics, Inc. (Nasdaq: TNYA), a clinical-stage biotechnology company with a mission to discover, develop and deliver potentially curative therapies that address the underlying causes of heart disease, today announced the pricing of its underwritten offering of 8,888,890 shares of its common stock at an offering price of $4.50 per share and, to certain investors in lieu of common stock, pre-funded warrants to purchase up to an aggregate of 2,222,271 shares of its common stock at a purchase price of $4.499 per each pre-funded warrant, which represents the per share offering price for the common stock less the $0.001 per share exercise price for each such pre-funded warrant. All of the securities are to be sold by Tenaya. The deal included participation from new and existing investors including The Column Group, RA Capital Management, Venrock Healthcare Capital Partners, Octagon Capital, funds and accounts managed by BlackRock, Armistice Capital, Integral Health Asset Management, PFM Health Sciences, LP, Soleus Capital, as well as two large investment management firms. Before deducting the underwriting discounts and commissions and offering expenses, Tenaya expects to receive total gross proceeds of approximately $50 million. The offering is expected to close on or about February 12, 2024, subject to satisfaction of customary closing conditions.
Leerink Partners and TD Cowen are acting as joint book running managers for the offering. LifeSci Capital is acting as lead manager for the offering.
The securities are being offered by Tenaya pursuant to a Registration Statement on Form S-3 previously filed and declared effective by the SEC, and Tenaya will also file a prospectus supplement and accompanying prospectus relating to and describing the terms of the offering with the SEC. These documents can be accessed for free through the SEC’s website at www.sec.gov.
When available,copies of the prospectus supplement and the accompanying prospectus relating to this offering may also be obtained from: Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at 1 (800) 808-7525, ext. 6132, or by email at [email protected]; or Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, by email at [email protected] or by telephone at (833) 297-2926.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that state or jurisdiction.
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