Unicycive Therapeutics to sell 50,000 shares at $1,000 in private placement

Unicycive Therapeutics announced that the Company has entered into a securities purchase agreement with certain healthcare-focused institutional investors for the sale of 50,000 shares of its Series B Convertible Preferred Stock at an offering price of $1,000 per share. The gross proceeds of the private placement are expected to be $50 million, before deducting placement agent fees and other expenses. The private placement is expected to close on March 18, 2024, subject to the satisfaction of customary closing conditions. The financing is led by new investors Octagon Capital and Great Point Partners, LLC, with participation from new and existing healthcare institutional investors including Logos Capital, Nantahala Capital, SilverArc Capital, Velan Capital, Vivo Capital and Walleye Capital. Leerink Partners and Piper Sandler are acting as placement agents for the private placement.