Jade Biosciences prices 13.4M shares at $9.14 in private placement

Jade Biosciences (JBIO) entered into a securities purchase agreement for a private investment in public equity financing that is expected to result in gross proceeds of approximately $135M to the Company, before placement agent fees and offering expenses. The PIPE financing included participation from both new and existing investors, including Janus Henderson Investors, Fairmount, RA Capital Management, Marshall Wace, Aberdeen Investments, Great Point Partners, Venrock Healthcare Capital Partners, Samsara BioCapital, Avidity Partners, and several other leading healthcare investors. Pursuant to the terms of the securities purchase agreement, Jade is selling an aggregate of 13,368,164 shares of its common stock at a purchase price of $9.14 per share and pre-funded warrants to purchase 1,402,092 shares of Common Stock at a price of $9.1399 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.0001 per share and may be exercised at any time after the date of issuance, subject to certain beneficial ownership limitations set by each holder. Following the transaction, there will be approximately 67.4M shares of the Company’s Common Stock and Common Stock equivalents issued and outstanding, including shares of Common Stock underlying pre-funded warrants and Series A non-voting convertible preferred stock. The PIPE financing is expected to close on or about October 8th, 2025, subject to satisfaction of customary closing conditions. Jefferies, TD Cowen, Stifel, and Wedbush & Co. are serving as placement agents to Jade for the PIPE financing.