Lyell Immunopharma announces up to $100 million equity private placement

* Lyell Immunopharma (NASDAQ:LYEL [https://seekingalpha.com/symbol/LYEL]) announced on Friday that it has entered into a securities purchase agreement for a private placement with certain institutional and other accredited investors, for gross proceeds of up to approximately $100 million.
* The initial closing of approximately $50 million of common stock at a price of $13.32 per share is anticipated to occur on or about July 25, 2025.
* The company said it has the right, but not the obligation, to require the investors to purchase approximately $50 million of additional common stock and/or pre-funded warrants in lieu of common stock at a closing upon achievement, within 12 months following the initial closing, of a clinical milestone relating to the company’s ongoing LYL314 PiNACLE pivotal trial or certain other corporate milestones.
* The purchase price per share of common stock in the milestone closing will be $25.61, unless the closing price of the common stock on the day before the Milestone Closing is less than $10.41, in which case it will be $10.41 per share.
* After deducting offering expenses, Lyell expects to use net proceeds from the private placement, together with the Company’s existing cash, cash equivalents, and marketable securities, to fund two pivotal-stage clinical trials of LYL314 as well as working capital for other general corporate purposes.
* LYEL +15.27% premarket to $12.
* Source: Press Release [https://seekingalpha.com/pr/20178160-lyell-immunopharma-announces-up-to-100-million-equity-private-placement]

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