Vor Bio to sell 5.338M shares at $14.05 in private placement

Vor Bio (VOR) announced that it has entered into a securities purchase agreement to sell 5,338,078 shares of its common stock at a price of $14.05 per share in a private placement. Vor Bio anticipates the gross proceeds from the private placement to be approximately $75M, before deducting any offering-related expenses. Vor Bio did not engage a placement agent in connection with the private placement. The private placement is expected to close on or about March 30, subject to the satisfaction of customary closing conditions. The financing is led by new investor TCGX. Vor Bio intends to use the net proceeds from the private placement to advance the clinical development of telitacicept, including the ongoing global Phase 3 clinical trials for myasthenia gravis and primary Sjogren’s disease, business development, and for working capital and general corporate purposes.