PHILADELPHIA, PA — Cabaletta Bio, Inc. (Nasdaq: CABA) has announced the pricing of its underwritten public offering, aiming to raise approximately $100 million in gross proceeds. The offering comprises 39,200,000 shares of common stock and accompanying warrants to purchase an equivalent number of shares, along with pre-funded warrants for up to 10,800,000 shares of common stock, also with accompanying warrants.
Each unit of common stock with a warrant is priced at $2.00, while each pre-funded warrant with an accompanying warrant is priced at $1.99999. The accompanying warrants have an exercise price of $2.50 per share, are immediately exercisable upon issuance, and will expire in fifteen months.
Cabaletta has also granted underwriters a 30-day option to purchase up to an additional 15,000,000 shares and/or warrants. The offering is expected to close on or about June 12, 2025, pending customary closing conditions.
Major underwriting participants include Jefferies, TD Cowen, and Cantor, who are serving as joint book-running managers.
“The successful pricing of this offering represents an important milestone for Cabaletta as we work to advance our clinical programs and strengthen our vision in the precision medicine space,” said a representative from the company.
Proceeds from the public offering will support the company’s mission of developing and advancing its therapeutic platform. With this funding, Cabaletta continues to build momentum as it addresses unmet medical needs in the biotechnology domain.
All securities in the offering are being issued under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. The transaction underscores significant investor interest, serving as a testament to confidence in the company’s strategic initiatives.
The company declared that its announcement shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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