Gracell Biotechnologies Announces Up To $150 Million Private Placement Financing Joined By A Syndicate Of Premier Healthcare Investors
Amount Raised
$150 Million
Round Type
Post-IPO Equity
San DiegoBiotechnologyHealth CareTherapeuticsBiopharmaInvestors
Description
Gracell Biotechnologies Inc. ("Gracell" or the "Company", Nasdaq: GRCL), a global clinical-stage biopharmaceutical company dedicated to developing innovative and highly efficacious cell therapies for the treatment of cancer and autoimmune diseases, today announced that it has entered into a purchase agreement with a select group of institutional and accredited healthcare specialist investors for the private placement of (i) 138,900,000 ordinary shares of the Company (the "Ordinary Shares") (equivalent to 27,780,000 of the Company's American depositary shares ("ADSs")), at a purchase price equivalent to $3.60 per ADS, and (ii) warrants to purchase up to 44,802,870 Ordinary Shares (equivalent to 8,960,574 ADSs) (the "Warrants") at an exercise price equivalent to $5.58 per ADS, representing a 55% premium to the purchase price of Ordinary Shares. Gracell will receive $100 million in proceeds from the private placement of Ordinary Shares, and up to an additional $50 million if the Warrants are fully exercised. The Warrants will remain exercisable at the election of the investors within 24 months after the closing of the private placement
Quick answer
Gracell raised $150 Million in a Post-IPO Equity round, dated August 7, 2023. Investors: Tcgx, RA Capital Management, Pivotal Life Sciences, Orbi Med, Logos Capital, Janus Henderson Investors, Exome Asset Management and Adage Capital Partners LP. Gracell is based in San Diego, California, United States.
- How much did Gracell raise?
- Gracell raised $150 Million in a Post-IPO Equity round on August 7, 2023.
- Who invested in Gracell?
- Tcgx, RA Capital Management, Pivotal Life Sciences, Orbi Med, Logos Capital, Janus Henderson Investors, Exome Asset Management and Adage Capital Partners LP are named as investors in this round.
- What does Gracell do?
- Gracell Biotechnologies Inc. is a global clinical-stage biopharmaceutical company specializing in the development of innovative cell therapies for the treatment of cancer and autoimmune diseases.
- Where is Gracell based and how big is it?
- Gracell is based in San Diego, California, United States.
- Who are the decision-makers at Gracell?
- Fundz holds 1 contact at Gracell. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Therapeutics and Biopharma around the same time
Companies in the same sectors as Gracell that raised within 45 days of this round, from Fundz verified event records.
- DalCor Pharmaceuticals raised $80M (Series D) on September 13, 2023.
- Renibus Therapeutics raised an undisclosed amount (Series B) on September 12, 2023.
- Oragenics raised $850K (Series C) on August 4, 2023.
- Renibus Therapeutics raised $47M (Funding Round) on July 18, 2023.
- Foresee Pharmaceuticals raised $42M (Funding Round) on June 27, 2023.
- DiaMedica Therapeutics raised $38M on June 23, 2023.
Who to call at Gracell, and when
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