Taysha Gene Therapies announces $150M private placement financing

Taysha Gene Therapies has entered into a securities purchase agreement for a private placement financing that is expected to result in gross proceeds of approximately $150 million, before deducting placement agent commissions and offering expenses. The PIPE was led by new investor, RA Capital Management, with participation from a large institutional investor, PBM Capital, RTW Investments, LP, Venrock Healthcare Capital Partners, TCGX, Acuta Capital Partners, Kynam Capital Management, LP, Octagon Capital, Invus, GordonMD Global Investments LP, and B Group Capital. In the PIPE, Taysha is selling an aggregate of 122,412,376 shares of its common stock at a price of $0.90 per share and, in lieu of common stock to certain investors, pre-funded warrants to purchase up to an aggregate of 44,250,978 shares of common stock at a purchase price of $0.899 per pre-funded warrant. Each pre-funded warrant has an exercise price of $0.001 per share of common stock and is immediately exercisable and remains exercisable until exercised in full. The PIPE is being conducted in accordance with applicable Nasdaq rules and was priced to satisfy the “Minimum Price” requirement. The PIPE is expected to close by August 16, 2023, subject to customary closing conditions. The pre-funded warrants will only be exercisable upon receipt of stockholder approval of an increase in the authorized shares of Taysha’s common stock, which Taysha will first seek to obtain at an annual meeting of stockholders to be held by December 31, 2023. Jefferies is acting as exclusive placement agent in the private placement.