Gritstone bio Announces Private Placement of $45.0 Million

EMERYVILLE, Calif., Oct. 25, 2022 (GLOBE NEWSWIRE) — Gritstone bio, Inc. (Nasdaq:GRTS), a clinical-stage biotechnology company that aims to develop the world’s most potent vaccines, today announced that it has executed a securities purchase agreement to sell, through a private investment in public equity (PIPE) financing, 6,637,165 shares of its common stock at a price of $2.26 per share of common stock and 13,274,923 pre-funded warrants to purchase up to 13,274,923 shares of common stock at a price of $2.2599 per pre-funded warrant for aggregate gross proceeds of approximately $45.0 million, before deducting placement agent fees and offering expenses. Each pre-funded warrant will have an exercise price of $0.0001 per share, will be exercisable immediately, and will be exercisable until exercised in full. The transaction is expected to close on October 27, 2022, subject to customary closing conditions. Gritstone intends to use the net proceeds from the PIPE financing to fund the ongoing clinical development of oncology and infectious disease programs and for general corporate purposes.

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