Sana Biotechnology (SANA) Puts MOre Shares on the Market

Sana Biotechnology, Inc. (NASDAQ: SANA) has announced the pricing of an upsized public offering, with the company set to offer 17,272,728 shares of its common stock at a price of $5.50 per share, along with pre-funded warrants to purchase 12,727,272 shares of common stock at a price of $5.4999 per pre-funded warrant. The gross proceeds from the offering are expected to be approximately $165.0 million before deducting underwriting discounts and commissions and other offering expenses.

The offering, which is expected to close on or about February 12, 2024, includes a 30-day option for underwriters to purchase up to an additional 4,500,000 shares of its common stock. Morgan Stanley, J.P. Morgan, Goldman Sachs & Co. LLC, and BofA Securities are acting as joint book-running managers for the offering.

Sana Biotechnology, Inc. is focused on creating and delivering engineered cells as medicines for patients, with operations in Seattle, Cambridge, South San Francisco, and Rochester.

Regarding the market response, the company's shares have moved 2.5%, and are now trading at a price of $6.32.

The company's full 8-K submission is available here.

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