Spyre Therapeutics Files 8-K with Material Agreement
Ticker: SYRE · Form: 8-K · Filed: Nov 19, 2024 · CIK: 1636282
| Field | Detail |
|---|---|
| Company | Spyre Therapeutics, Inc. (SYRE) |
| Form Type | 8-K |
| Filed Date | Nov 19, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $27.50, $200.0 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, company-update
TL;DR
Spyre Therapeutics (formerly Aeglea) filed an 8-K on Nov 18, 2024, reporting a material definitive agreement.
AI Summary
On November 18, 2024, Spyre Therapeutics, Inc. filed an 8-K report. The filing indicates an entry into a material definitive agreement and includes financial statements and exhibits. Spyre Therapeutics, Inc. was formerly known as Aeglea BioTherapeutics, Inc. until March 11, 2015.
Why It Matters
This 8-K filing signals a significant development for Spyre Therapeutics, Inc., potentially involving a new contract or partnership that could impact its operations and future financial performance.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement, which could represent a significant positive or negative development for the company, but the specifics are not detailed in this summary.
Key Players & Entities
- Spyre Therapeutics, Inc. (company) — Registrant
- Aeglea BioTherapeutics, Inc. (company) — Former company name
- November 18, 2024 (date) — Date of earliest event reported
- March 11, 2015 (date) — Date of name change
FAQ
What is the nature of the material definitive agreement entered into by Spyre Therapeutics, Inc. on November 18, 2024?
The provided filing summary does not specify the details of the material definitive agreement.
What are the primary business activities of Spyre Therapeutics, Inc.?
Spyre Therapeutics, Inc. is in the Pharmaceutical Preparations industry (SIC code 2834).
When did Spyre Therapeutics, Inc. change its name from Aeglea BioTherapeutics, Inc.?
The company changed its name from Aeglea BioTherapeutics, Inc. on March 11, 2015.
Where is Spyre Therapeutics, Inc. headquartered?
Spyre Therapeutics, Inc. is headquartered at 221 Crescent Street, Building 23, Suite 105, Waltham, MA 02453.
What is the SEC file number for Spyre Therapeutics, Inc.?
The SEC file number for Spyre Therapeutics, Inc. is 001-37722.
Filing Stats: 912 words · 4 min read · ~3 pages · Grade level 11.8 · Accepted 2024-11-19 17:15:04
Key Financial Figures
- $0.0001 — ange on which registered Common Stock, $0.0001 Par Value Per Share SYRE The Nasdaq St
- $27.50 — Stock"), at a public offering price of $27.50 per share. In addition, the Company gra
- $200.0 m — fering are expected to be approximately $200.0 million, before deducting underwriting di
Filing Documents
- syre-20241118.htm (8-K) — 35KB
- exhibit11-8xkfinancialclos.htm (EX-1.1) — 326KB
- exhibit51-8xkfinancialclos.htm (EX-5.1) — 8KB
- exhibit511a.jpg (GRAPHIC) — 54KB
- 0001628280-24-048527.txt ( ) — 638KB
- syre-20241118.xsd (EX-101.SCH) — 2KB
- syre-20241118_lab.xml (EX-101.LAB) — 23KB
- syre-20241118_pre.xml (EX-101.PRE) — 13KB
- syre-20241118_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On November 18, 2024, Spyre Therapeutics, Inc. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with Jefferies LLC, Goldman Sachs & Co. LLC, Evercore Group L.L.C. and Guggenheim Securities, LLC, as the representatives of the underwriters named therein (the "Underwriters"), relating to the offer and sale (the "Offering") of 7,275,000 shares of the Company's common stock, par value $0.0001 per share (the "Common Stock"), at a public offering price of $27.50 per share. In addition, the Company granted the Underwriters a 30-day option (the "Option") to purchase up to an additional 1,091,250 shares of its Common Stock on the same terms and conditions as the Common Stock sold in the Offering. The aggregate gross proceeds to the Company from the Offering are expected to be approximately $200.0 million, before deducting underwriting discounts and commissions and estimated offering expenses. The net proceeds of this Offering together with existing cash, cash equivalents and marketable securities are expected to be sufficient to fund operations into the second half of 2028. The Company has based this estimate on assumptions that may prove to be wrong, and the Company could use its available capital resources sooner than it currently expects. The securities described above were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-281975), which was previously filed with the U.S. Securities and Exchange Commission (the "SEC") on September 6, 2024 and became effective on September 18, 2024. A final prospectus supplement dated November 18, 2024 relating to and describing the terms of the Offering was filed with the SEC on November 19, 2024. The Offering is expected to close on November 20, 2024, subject to the satisfaction of customary closing conditions. The Underwriting Agreement contains customary representations and warranties, agreements and obligations, cond
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 1.1 Underwriting Agreement, by and among the Company and Jefferies LLC, Goldman Sachs & Co. LLC, Evercore Group L.L.C. and Guggenheim Securities, LLC , dated as of November 18 , 2024 5.1 Opinion of Gibson, Dunn & Crutch er LLP 23.1 C onsent of Gibson, Dunn & Crutcher LLP (included in Exhibit 5.1) 104 Cover Page Interactive Data File (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. SPYRE THERAPEUTICS, INC. Date: November 19, 2024 By: /s/ Cameron Turtle Cameron Turtle Chief Executive Officer