NEW YORK – Gritstone Oncology, an Emeryville, California-based company developing personalized immunotherapies, on Monday said it has raised $125 million from two private placements of its publicly traded shares.
First, the company closed a $110 million private investment in public equity (PIPE) financing announced last week. The proceeds come from the sale of 5,543,351 shares of common stock at a purchase price of $3.34 per share, the closing price of Gritstone's common stock on Dec. 22, and from pre-funded warrants for an aggregate of 27,480,719 shares of common stock. The number of stocks issued upon exercise and the exercise price of the pre-funded warrants will be adjusted if there are any transactions, such as stock dividends and splits, reverse stock split, recapitalization, or reorganization.
The company also announced a new PIPE financing for $15 million from the sale of shares of its common stock at $3.71 per share, which is slated to close Dec. 30. The financings are supported by new and existing institutional investors including Redmile Group, Avidity Partners, EcoR1 Capital, BVF Partners, and Versant Ventures.