Carna Biosciences, Inc. announced a private placement of 33,865 series 20 stock acquisition rights floating rate warrants at an issue price Ã331 for gross proceeds of Ã11,209,315 on November 22, 2022. The transaction will include participation from returning investor, Cantor Fitzgerald & Co. Each stock acquisition right is exercisable into 100 shares at an initial exercise price of Ã822.
The stock acquisition rights have a conversion period beginning from December 9, 2022 and ending on December 9, 2024. The company will incur an estimated issuance fees of Ã15,792,000 and receive net proceeds of Ã2,779,120,315. The method of allotment will be through third party allotment.
The transaction has been approved by board of directors of the company. The issue date for stock acquisition rights will be December 8, 2022.