InvestmentApr 30, 2026, 04:26 PM
CUE Raises $30M in Private Placement
AI Summary
Cue Biopharma, Inc. announced a private placement (PIPE financing) with accredited investors, expecting to raise approximately $30 million in gross proceeds. The company will sell pre-funded warrants to purchase up to 2,727,272 shares and accompanying common stock warrants to purchase up to 1,363,636 shares, at an effective price of $11.00 per unit. The net proceeds are intended to advance the company's clinical pipeline, including the acquisition and development of Ascendant-221, as well as for working capital and general corporate purposes. The financing is expected to close around May 4, 2026, pending customary closing conditions and stockholder approval.
Key Highlights
- Secured approximately $30 million in gross proceeds from a private placement (PIPE financing).
- Agreed to sell pre-funded warrants for up to 2,727,272 shares and warrants for up to 1,363,636 shares.
- Effective price of $11.00 per Pre-Funded Warrant and accompanying Warrant.
- Pre-Funded Warrants have an exercise price of $0.001 per share.
- Warrants have an exercise price of $11.00 per share and expire on the fifth anniversary of closing.
- Net proceeds will advance the clinical pipeline, including acquiring and developing Ascendant-221.
- Proceeds also allocated for working capital and other general corporate purposes.
- Closing expected around May 4, 2026, subject to customary conditions and stockholder approval.
Price Impact
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