Unicycive Announces $50 Million Private Placement
LOS ALTOS, Calif., March 14, 2024 (GLOBE NEWSWIRE) — Unicycive Therapeutics, Inc. (Nasdaq:UNCY) (the “Company” or “Unicycive”), a clinical-stage biotechnology company developing therapies for patients with kidney disease, today 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.