Whitehawk Therapeutics announces $87.5M private placement

Whitehawk Therapeutics (WHWK) announced that it has entered into a securities purchase agreement with certain qualified institutional buyers and accredited investors for a private investment in public equity financing that is expected to result in gross proceeds of approximately $87.5M, before deducting placement agent fees and other private placement expenses. The PIPE financing includes participation from existing investors including Avoro Capital, QVT, Coastlands Capital, KVP Capital, ADAR1 Capital Management, Acuta Capital Partners, StemPoint Capital LP, Invus, as well as members of the company’s executive team. Pursuant to the terms of the securities purchase agreement, Whitehawk is selling an aggregate of (i) 4,330,866 shares of its common stock at a purchase price of $3.92 per share, and (ii) pre-funded warrants to purchase 17,991,021 shares of common stock at a purchase price of $3.9199 per Pre-Funded Warrant. The Pre-Funded Warrants have an exercise price of $0.0001 per share. The PIPE financing is expected to close on May 14, subject to the satisfaction of customary closing conditions. Jefferies and Leerink Partners are acting as lead placement agents for the PIPE financing. Oppenheimer & Co., Citizens Capital Markets and Jones are also acting as placement agents for the PIPE financing.