Regulus Therapeutics

Canaccord Genuity Acted as a Financial Advisor to Regulus Therapeutics on its Oversubscribed Private Placement of $100 Million

Canaccord Genuity is pleased to announce its client Regulus Therapeutics Inc. (NASDAQ: RGLS) (the “Company”), a biopharmaceutical company focused on the discovery and development of innovative medicines targeting microRNAs, entered into a definitive securities purchase agreement on March 12th, 2024 in connection with a private placement financing resulting in gross proceeds of approximately $100 million. 

The oversubscribed financing includes participation from new and existing institutional investors, including Adage Capital Partners L.P., Deep Track Capital, the Federated Hermes Kaufmann Funds, New Enterprise Associates (NEA), Octagon Capital, RA Capital Management, and Vivo Capital.¹

Under the securities purchase agreement, the investors have agreed to purchase shares of the Company's common stock ("Common Stock") at a purchase price of $1.60 per share. Certain investors have also agreed to purchase, in lieu of shares of Common Stock, shares of newly designated, non-voting Class A-6 convertible preferred stock at a purchase price of $160.00 per share. Each share of non-voting Class A-6 convertible preferred stock will be convertible into 100 shares of Common Stock, subject to certain beneficial ownership conversion limitations.

Canaccord Genuity acted as a financial advisor for the financing.

Regulus has leveraged its oligonucleotide drug discovery and development expertise to develop a pipeline complemented by a rich intellectual property estate in the microRNA field. Regulus maintains its corporate headquarters in San Diego, CA.

1. Source: Regulus Therapeutics