Gritstone bio Announces Pricing of $32.5 Million Underwritten Public Offering

EMERYVILLE, Calif., April 01, 2024 (GLOBE NEWSWIRE) -- Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company working to develop the world’s most potent vaccines, today announced the pricing of an approximately $32.5 million underwritten public offering of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) and accompanying common warrants to purchase common stock (or pre-funded warrants to purchase common stock in lieu thereof), before deducting underwriting discounts and commissions and offering expenses.

The offering consists of (i) 8,333,333 shares of common stock and accompanying common warrants to purchase up to 8,333,333 shares of common stock at a per share exercise price of $1.65 (provided, however, that the purchaser may elect to exercise the common warrants for pre-funded warrants in lieu of shares of common stock at an exercise price of $1.65 minus $0.0001, the exercise price of each pre-funded warrant), at a combined public offering price of $1.50 per share and accompanying common warrant and (ii) to a certain investor in lieu of common stock, pre-funded warrants to purchase up to 13,334,222 shares of common stock at a per share exercise price of $0.0001 and accompanying common warrants to purchase up to 13,334,222 shares of common stock at a per share exercise price of $1.65 (provided, however, that the purchaser may elect to exercise the common warrants for pre-funded warrants in lieu of shares of common stock at an exercise price of $1.65 minus $0.0001, the exercise price of each pre-funded warrant) at a combined public offering price of $1.4999 per pre-funded warrant and accompanying common warrant, which represents the per share combined purchase price for the common stock and accompanying common warrants less the $0.0001 per share exercise price for each such pre-funded warrant. The accompanying common warrants will be immediately exercisable for shares of common stock or pre-funded warrants in lieu thereof, and will expire on the twelve-month anniversary of the date of issuance. All of the shares of common stock, accompanying common warrants and pre-funded warrants are being offered by Gritstone bio. The offering is expected to close on or about April 4, 2024, subject to the satisfaction of customary closing conditions.