Leap Therapeutics announces $58.88M private placement

Leap Therapeutics (LPTX) announced $58,888,888 in cash commitments for a private investment in public equity offering led by Winklevoss Capital to initiate a digital asset treasury strategy. Leap has entered into a securities purchase agreement for the purchase and sale of (i) 95,849,353 shares of common stock or pre-funded warrants in lieu thereof and (ii) warrants to purchase an additional 71,887,008 shares of common stock at an exercise price of $0.5335 per share, for an aggregate exercise price per Unit of $0.61439. Pursuant to a lead investor agreement, Leap will increase the size of its Board of Directors to 12 members and Winklevoss Capital will have the right to nominate two individuals to Leap’s Board of Directors, one of whom shall also be the chairperson of the Board. The closing of the private placement is expected to occur on or about October 8, 2025, subject to the satisfaction of customary closing conditions. Leap has selected Parcrest as the placement agent.