March 5, 2024

SAN FRANCISCO, March 4, 2024 /PRNewswire/ — Nektar Therapeutics (Nasdaq: NKTR), a biotechnology company developing medicines for the treatment of auto-immune disorders, today announced that it has entered into a securities purchase agreement with TCGX, an institutional accredited investor, to sell securities in a private placement financing (the “PIPE”) for gross proceeds of $30 million, before deducting expenses.  In the PIPE, Nektar is selling 25 million shares of its common stock, in the form of a pre-funded warrant, at a price of $1.20 per share, representing a premium of approximately 80% to Nektar’s 30-day volume-weighted average price. The pre-funded warrant will have an exercise price of $0.0001 per share and will not expire. The PIPE is expected to close on or before March 6, 2024, subject to customary closing conditions. FLG partner Sandy Gardiner assisted.

Full press release is here.