Inhibrx sells 3.62M shares at $19.35 in private placement

Inhibrx announced that it has entered into a securities purchase agreement for a private placement financing that is expected to result in gross proceeds of approximately $200M. The financing was limited to certain of the company’s existing investors, which included participation from RA Capital Management as the lead investor, Viking Global Investors, Perceptive Advisors, and TCGX. In the PIPE, Inhibrx is selling an aggregate of 3,621,314 shares of its common stock at a price of $19.35 per share and, in lieu of common stock to certain investors, pre-funded warrants to purchase up to an aggregate of 6,714,636 shares of common stock at a purchase price of $19.3499 per pre-funded warrant. Each pre-funded warrant has an exercise price of $0.0001 per share of common stock and is immediately exercisable and remains exercisable until exercised in full. The PIPE is expected to close by August 31, 2023, subject to customary closing conditions.