Press release
Gossamer Bio Announces $212 Million Private Placement Financing
- In Conjunction with Offering, Interim TORREY OLE Data and PROSERA Phase 3 Design Disclosed via 8-K; Conference Call to Discuss Data and Phase 3 Design with
About this update from Gossamer Bio, Inc.
[{"type":"text","content":"\n- In Conjunction with Offering, Interim TORREY OLE Data and PROSERA Phase 3 Design Disclosed via 8-K; Conference Call to Discuss Data and Phase 3 Design with Leading PAH KOLs to be Held on July 25th -\n\n\n SAN DIEGO--(BUSINESS WIRE)--\nGossamer Bio, Inc. (Nasdaq: GOSS), a clinical-stage biopharmaceutical company focused on the development and commercialization of seralutinib for the treatment of pulmonary arterial hypertension (PAH), announced today that it has entered into a securities purchase agreement with institutional and accredited investors to sell securities in a private placement for gross proceeds of approximately $212 million, before deducting placement agent fees and offering expenses.\n\n\nThe financing includes participation from new and existing institutional investors, including New Enterprise Associates (NEA), EcoR1 Capital, Armistice Capital, Farallon, Madison Avenue Partners, LP., Nantahala, Samsara BioCapital, SilverArc Capital, Octagon Capital, Boxer Capital, Invus, the Federated Hermes Kaufmann Funds, Palo Alto Investors LP, and Rock Springs Capital, and certain directors and executive officers of Gossamer.\n\n\nIn the private placement, Gossamer is selling 129,869,440 shares of its common stock and accompanying warrants to purchase up to 32,467,360 shares of common stock, at a combined price of $1.63125 per share of common stock and accompanying warrant (or a combined price of $1.85125 per share and accompanying warrant for participating officers and directors). The warrants will have an exercise price of $2.04 per share of common stock, will be immediately exercisable and expire on July 24, 2028. The private placement is expected to close on July 24, 2023, subject to customary closing conditions. The financing was priced at-the-market under Nasdaq rules.\n\n\nGossamer intends to use the net proceeds from the private placement to fund the ongoing development and commercialization of seralutinib and for working capital and general corporate purposes.\n\n\n“We are grateful for the support from this investor syndicate and thrilled to embark on the registrational PROSERA Phase 3 trial, the next step towards bringing seralutinib to patients with PAH,” said Faheem Hasnain, Co-Founder, Chairman and CEO of Gossamer.\n\n\nIn addition to announcing this financing, Gossamer today disclosed via 8-K an interim upda...