Press release
Savara Announces Pricing of $80 Million Underwritten Offering of Common Stock and Pre-Funded Warrants
LANGHORNE, Pa.--(BUSINESS WIRE)-- Savara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical company focused on rare respiratory diseases, today
About this update from Savara, Inc.
[{"type":"text","content":" LANGHORNE, Pa.--(BUSINESS WIRE)--\nSavara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical company focused on rare respiratory diseases, today announced the pricing of an underwritten offering of 21,000,000 shares of its common stock at a price of $3.00 per share and, in lieu of common stock to certain investors that so choose, 5,666,667 pre-funded warrants to purchase common stock at a price of $2.999 per pre-funded warrant, in each case before deducting underwriting discounts and commissions, for total gross proceeds of approximately $80 million. All of the securities to be sold in the offering are being sold by Savara. The offering included new investors TCGX, Frazier Life Sciences, and Janus Henderson Investors, as well as existing investors Bain Capital Life Sciences, New Enterprise Associates (NEA), Adage Capital Partners LP, and Venrock Healthcare Capital Partners. The offering is expected to close on July 17, 2023, subject to the satisfaction of customary closing conditions.\n\n\nJefferies LLC and Piper Sandler are acting as joint book-running managers for the offering. Oppenheimer & Co. Inc. is acting as the co-lead manager and H.C. Wainwright & Co., LLC is acting as co-manager for the offering.\n\n\nThese securities were offered by Savara pursuant to its existing shelf registration statement (File No. 333-257709) filed with the Securities and Exchange Commission (SEC) on July 6, 2021 and declared effective on July 16, 2021. A prospectus supplement describing the terms of the offering will be filed with the SEC and will form a part of the effective registration statement. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388, or by email at [email protected] or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924, or by email at [email protected]. An electronic copy of the prospectus supplement and accompanying prospectus relating to the offering will be available on the SEC website at www.sec.gov.\n\n\nThis press release does not constitute an offer to sell or the solicitation of offers to buy any se...