Kura Oncology (KURA) has released an update to notify the public and investors about an entry into a material definitive agreement.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
On January 24, 2024, Kura Oncology, Inc. entered into a securities purchase agreement with certain institutional investors to issue and sell 1,376,813 shares of common stock and pre-funded warrants for an additional 7,318,886 shares, with proceeds of approximately $150 million. The private placement closed on January 26, 2024. Additionally, a registration rights agreement was signed to enable the resale of these securities, with a commitment to file the necessary registration statement by February 23, 2024, and to maintain its effectiveness until the securities can be sold without restrictions. The company and purchasers have mutual indemnification rights, and the company may owe liquidated damages if certain registration deadlines are not met.
For further insights into KURA stock, check out TipRanks’ Stock Analysis page.