Senti Biosciences, Inc., a biotechnology firm currently in the clinical-stage, is advancing innovative cell and gene therapies via its unique gene circuit platform. The company has finalized a securities purchase agreement, permitting select existing and new accredited investors to purchase a total of 16,713 shares of Series A Convertible Preferred Stock via a private investment in public equity (PIPE) financing. Anticipated gross earnings from the PIPE financing are estimated at about $37.6 million before deducting associated costs.
Furthermore, contingent upon approval from the company’s stockholders, investors will be able to exercise warrants to acquire an additional 25,069,500 shares of the company’s common stock. The anticipated closing of the PIPE financing is set for December 5, 2024, pending customary closing conditions. Furthermore, an option for an additional 4,444 shares of Preferred Stock and accompanying warrants has been offered to a selected investor, which could result in approximately $10.0 million in further gross earnings at a subsequent closing set no later than December 27, 2024.
Celadon Partners spearheaded this financing round, with involvement from New Enterprise Associates (NEA), Leaps by Bayer, Nantahala Capital, The Red Hook Fund LP, along with other institutional and accredited stakeholders. The capital raised is earmarked for ongoing development of its SENTI-202 program, enhancement of manufacturing capabilities, various research and development activities, and other corporate purposes.
Leerink Partners is facilitating the placement for the PIPE financing.
The securities offered in this PIPE financing are part of a private transaction, unregistered under the Securities Act of 1933, as amended, and cannot be offered or sold in the U.S. without an effective registration statement or a qualifying exemption. In concurrence with the securities purchase agreement, Senti Bio and the investors have entered a registration rights agreement, requiring the company to submit a registration statement to the Securities and Exchange Commission to register the resale of the common stock linked to the PIPE financing.
Senti Bio is striving to create groundbreaking cell and gene therapies to offer hope to patients dealing with stubborn illnesses.