Sangamo Therapeutics Prices $23M Underwritten Offering Of 12.235M Shares Of Common Stock And Pre-Funded Warrants At $0.50 And $0.49 Respectively, Including Accompanying Warrants Exercisable At $0.75

Author: Benzinga Newsdesk | May 12, 2025 05:25pm

Sangamo Therapeutics, Inc. (NASDAQ:SGMO), a genomic medicine company, today announced the pricing of an underwritten offering consisting of 12,235,000 shares of its common stock and pre-funded warrants to purchase 34,398,393 shares of its common stock, together with accompanying warrants to purchase 46,633,393 shares of its common stock. The combined offering price of each share of common stock and accompanying warrant is $0.50. The combined offering price of each pre-funded warrant and accompanying warrant is $0.49. The common stock and pre-funded warrants are being sold in combination with an accompanying warrant to purchase one share of common stock issued for each share of common stock or pre-funded warrant sold. The accompanying warrant has an exercise price of $0.75 per share, will become exercisable six months from the date of issuance and will expire six years from the date of issuance. All of the securities in the offering are to be sold by Sangamo. The offering is expected to close on or about May 14, 2025, subject to the satisfaction of customary closing conditions.

The gross proceeds to Sangamo from this underwritten offering, before deducting the underwriting discount and other estimated offering expenses, are expected to be approximately $23.0 million. Sangamo intends to use the net proceeds from the offering for working capital and general corporate purposes.

Cantor is acting as sole book-running manager for the offering.

Posted In: SGMO