Relay Therapeutics to sell 2.5M shares at $12.00 in private placement

Relay Therapeutics has entered into a securities purchase agreement for a private placement financing with Nextech to sell an aggregate of 2.5 million shares of common stock at a price per share of $12.00, a premium to the closing price on January 5, 2024, that is expected to result in gross proceeds of $30.0 million.The PIPE is expected to close by January 10, 2024, subject to customary closing conditions. Relay Therapeutics expects to use net proceeds from the private placement to advance RLY-2608 towards registrational trial(, to advance its preclinical pipeline of innovative programs, and for working capital and other general corporate purposes.