Senti Biosciences Reports Oversubscribed $37.6 M PIPE Financing

December 2, 2024

DENVER, Colo., Dec 02, 2024 (247marketnews.com)- Senti Biosciences (NASDAQ: SNTI) reported entering into a securities purchase agreement to issue and sell an aggregate of 16,713 shares of Series A Convertible Preferred Stock through a private investment in public equity (the “PIPE”) financing, which is expected to raise approximately $37.6 million, less offering expenses, for Senti Bio.

Additionally, upon Senti Bio shareholder approval, the PIPE investors will have the right to exercise warrants to purchase up to an additional 25,069,500 in shares of Senti Bio common stock. Senti Bio also granted to a certain investor an option to purchase an additional 4,444 shares of Preferred Stock and accompanying warrants for gross proceeds of approximately $10.0 million at a subsequent closing to occur no later than December 27, 2024.

Senti Bio plans on using use the offering net proceeds, and existing assets, to fund the continued development of its SENTI-202 program and manufacturing ramp-up, as well as other research and development activities, and for general corporate purposes.

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