Coya Therapeutics (NASDAQ: COYA) Announces Private Placement Offering

Coya Therapeutics, Inc. (the “Company”), a Delaware-based biopharmaceutical firm, disclosed in a recent 8-K filing its entry into a Securities Purchase Agreement for a private placement. The Company entered this agreement on October 21, 2024, with accredited investors for the issuance and sale of 1,379,314 shares of common stock at $7.25 per share, resulting in an approximate $10.0 million in gross proceeds.

The closing of this Offering is expected to take place around October 23, 2024, subject to customary closing conditions. As part of this agreement, the Company committed to filing a registration statement with the Securities and Exchange Commission within 30 days, covering the resale of the securities issued in the Offering. The intent is to utilize the net proceeds for general corporate purposes, including administrative expenses, working capital, and to support various activities regarding the Company’s product candidate pipeline.

In facilitating this private placement, BTIG, LLC served as the lead placement agent, while Allele Capital Partners, LLC, through its executing broker-dealer Wilmington Capital Securities, LLC, and Chardan Capital Markets LLC acted as co-placement agents. Upon the Offering’s closure, the Company is slated to remit an aggregate cash fee of 7.0% of the gross proceeds to the Placement Agents.

It is pertinent to note that the Shares issued in this Private Placement are exempt from registration under Section 4(a)(2) of the Securities Act of 1933, relying in part on representations from the Investors. Furthermore, these Shares will not be registered under the Securities Act or state securities laws and can’t be offered or sold in the United States absent an applicable exemption.

The Company also disclosed its unaudited cash and cash equivalents of approximately $31.0 million as of September 30, 2024. The Company included a press release issued on October 22, 2024, announcing the Securities Purchase Agreement in its filing.

This forward-looking 8-K report emphasized that statements within are subject to a range of risks and uncertainties. Coya Therapeutics urged caution against placing undue reliance on these forward-looking statements, highlighting the need to consult their other filings for a comprehensive understanding of the associated risks.

The attached Exhibits to the 8-K filing include the Form of Securities Purchase Agreement and the Press Release dated October 22, 2024, among others.

As of the signing of this report on October 22, 2024, Coya Therapeutics, Inc. was represented by Howard Berman, the Chief Executive Officer.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Coya Therapeutics’s 8K filing here.

Coya Therapeutics Company Profile

Coya Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development of proprietary medicinal products to modulate the function of regulatory T cells (Tregs). The company's product candidate pipeline is based on therapeutic modalities, such as Treg-enhancing biologics, Treg-derived exosomes, and autologous Treg cell therapy.