Sangamo Therapeutics Closes $55.2M Public Offering
Ticker: SGMO · Form: 8-K · Filed: Mar 25, 2024 · CIK: 1001233
| Field | Detail |
|---|---|
| Company | Sangamo Therapeutics, Inc (SGMO) |
| Form Type | 8-K |
| Filed Date | Mar 25, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.01, $0.84, $0.83, $24.0 m, $0 |
| Sentiment | neutral |
Sentiment: neutral
Topics: offering, financing, gene-therapy
TL;DR
Sangamo closed its $55.2M stock offering at $4/share. Funds to fuel gene therapy pipeline.
AI Summary
On March 21, 2024, Sangamo Therapeutics, Inc. filed an 8-K report to announce the closing of its previously announced underwritten public offering. The company successfully sold approximately 13,800,000 shares of common stock at a price of $4.00 per share, resulting in gross proceeds of approximately $55.2 million before deducting underwriting discounts and commissions and other offering expenses.
Why It Matters
This capital raise provides Sangamo Therapeutics with additional funds to advance its gene therapy programs, potentially accelerating drug development and future growth.
Risk Assessment
Risk Level: medium — While the capital raise is positive, the success of gene therapy development is inherently risky and subject to clinical trial outcomes and regulatory approvals.
Key Numbers
- $55.2M — Gross Proceeds (From the public offering of common stock.)
- $4.00 — Price Per Share (The price at which shares were sold in the offering.)
- 13,800,000 — Shares Sold (The total number of common stock shares sold in the offering.)
Key Players & Entities
- Sangamo Therapeutics, Inc. (company) — Registrant
- March 21, 2024 (date) — Date of earliest event reported
- $55.2 million (dollar_amount) — Gross proceeds from public offering
- $4.00 (dollar_amount) — Price per share in public offering
- 13,800,000 (dollar_amount) — Number of shares sold
FAQ
What was the total amount of gross proceeds from Sangamo's public offering?
The total gross proceeds were approximately $55.2 million.
At what price per share were the shares sold in the offering?
The shares were sold at a price of $4.00 per share.
How many shares of common stock did Sangamo sell?
Sangamo sold approximately 13,800,000 shares of common stock.
When did Sangamo Therapeutics announce the closing of its public offering?
The report indicates the earliest event reported was March 21, 2024.
What is the primary business of Sangamo Therapeutics, Inc.?
Sangamo Therapeutics, Inc. is in the business of Biological Products (No Diagnostic Substances).
Filing Stats: 1,481 words · 6 min read · ~5 pages · Grade level 11.7 · Accepted 2024-03-25 17:04:05
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share SGMO Nasdaq Glo
- $0.84 — ck and accompanying Purchase Warrant is $0.84. The combined offering price of each Pr
- $0.83 — nt and accompanying Purchase Warrant is $0.83 (equal to the combined purchase price p
- $24.0 m — fering are expected to be approximately $24.0 million, before deducting the placement a
- $0 — an initial exercise price per share of $0.01, subject to certain adjustments. The
- $1 — an initial exercise price per share of $1.00, subject to certain adjustments. The
Filing Documents
- d816036d8k.htm (8-K) — 32KB
- d816036dex41.htm (EX-4.1) — 90KB
- d816036dex42.htm (EX-4.2) — 93KB
- d816036dex51.htm (EX-5.1) — 14KB
- d816036dex101.htm (EX-10.1) — 174KB
- d816036dex102.htm (EX-10.2) — 179KB
- g816036g77j47.jpg (GRAPHIC) — 30KB
- 0001193125-24-076613.txt ( ) — 894KB
- sgmo-20240321.xsd (EX-101.SCH) — 3KB
- sgmo-20240321_lab.xml (EX-101.LAB) — 17KB
- sgmo-20240321_pre.xml (EX-101.PRE) — 11KB
- d816036d8k_htm.xml (XML) — 3KB
Forward-Looking Statements
Forward-Looking Statements This report contains forward-looking statements, including, without limitation, statements relating to Sangamo's expectations regarding the completion of the offering. These forward-looking statements are based upon Sangamo's current expectations. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation, risks and uncertainties related to the satisfaction of customary closing conditions related to the offering, the uncertain research and product development process, and other risks detailed in Sangamo's filings with the SEC, including Sangamo's Annual Report on Form 10-K for the year ended December 31, 2023 and in the prospectus supplement relating to the offering, filed with the SEC on March 25, 2024. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. Sangamo undertakes no duty to update such information except as required under applicable law. Item9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 4.1 Form of Pre-Funded Warrant to Purchase Common Stock. 4.2 Form of Warrant to Purchase Common Stock. 5.1 Opinion of Cooley LLP. 10.1 Form of Securities Purchase Agreement, dated March 21, 2024 by and among Sangamo Therapeutics, Inc. and the purchasers party thereto. 10.2 Placement Agent Agreement, dated March 21, 2024 by and among Sangamo Therapeutics, Inc. and Barclays Capital Inc. and Cantor Fitzgerald & Co. 23.1 Consent of Cooley LLP (included in Exhibit 5.1). 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SANGAMO THERAPEUTICS, INC. By: /s/ SCOTT B. WILLOUGHBY Name: Scott B. Willoughby Title: Senior Vice President, General Counsel and Corporate Secretary Dated: March 25, 2024