Sana Biotechnology Announces $69.9mln Public Offering of 20.9mln Shares

Sana Biotechnology has priced a public offering of 20.895 million shares of common stock at $3.35 per share and pre-funded warrants to purchase 1.492 million shares at $3.3499 per warrant. The offering is expected to raise approximately $71 million.

Sana Biotechnology, Inc. (Nasdaq: SANA), a company focused on creating engineered cells as medicines for patients, has priced its underwritten public offering. The offering consists of 20,895,522 shares of common stock at $3.35 per share, along with pre-funded warrants to purchase 1,492,537 shares at $3.3499 per warrant for certain investors. The gross proceeds from the offering are expected to be approximately $75.0 million before deducting underwriting discounts and commissions and other expenses.

The offering is expected to close on or about August 8, 2025, subject to customary closing conditions. Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities, and TD Cowen are acting as joint book-running managers for the offering.

The company's stock has seen a significant decline of 26.7% following the announcement of the pricing of the public offering. This decline is likely due to investor reaction to the potential dilution from the new share issuance and the substantial discount to recent trading levels [2].

Sana Biotechnology operates in Seattle, WA, Cambridge, MA, and South San Francisco, CA, and focuses on developing engineered cells for therapeutic applications. The company's platform aims to create novel cell-based treatments for patients.

References:
[1] https://ir.sana.com/news-releases/news-release-details/sana-biotechnology-announces-pricing-public-offering
[2] https://za.investing.com/news/stock-market-news/sana-biotechnology-stock-tumbles-after-pricing-public-offering-93CH-3826497