SOUTH SAN FRANCISCO, Calif., March 03, 2025 (GLOBE NEWSWIRE) — Tenaya Therapeutics, Inc. (NASDAQ:TNYA), a clinical-stage biotechnology company with a mission to discover, develop and deliver potentially curative therapies that address the underlying causes of heart disease, today announced the pricing of its underwritten public offering of 75,000,000 total units for gross proceeds of approximately $52.5 million prior to deducting underwriting discounts and commissions and offering expenses.
Tenaya intends to use the net proceeds from the offering to fund the ongoing and planned development of its clinical and early-stage product candidates, particularly TN-201 and TN-401, and for working capital and other general corporate purposes.
The offering is comprised of 75,000,000 units, priced at a public offering price of $0.70 per unit, with each unit consisting of one share of common stock, a warrant to purchase one share of common stock (which equates to 100% warrant coverage) at an exercise price of $0.80 per share, which will be immediately exercisable and will expire five years from the date of issuance (a Series A Warrant) and a warrant to purchase one-half of a share of common stock (which equates to 50% warrant coverage) at an exercise price of $0.70 per share, which will be immediately exercisable and expire on June 30, 2026 (a Series B Warrant). The securities comprising the units are immediately separable and will be issued separately.
All of the securities are to be sold by Tenaya. The offering is expected to close on or about March 5, 2025, subject to satisfaction of customary closing conditions.
Leerink Partners and Piper Sandler are acting as joint book-running managers …
