Eliem Therapeutics, Inc entered into a securities purchase agreement to issue 31,238,282 shares of the Company?s common stock, at a price of $3.84 per Share for a gross proceeds of $ 119,955,002.88 on April 10, 2024. The Private Placement is expected to close immediately following the closing of the Acquisition, subject to the satisfaction of specified customary closing conditions, including approval from the stockholders of the Company, and contingent upon, among other things, the closing of the Acquisition. In connection with the Private Placement, the Company will prepare, file and mail a proxy statement and seek the approval of its stockholders to, among other things, issue the PIPE Shares under the rules of Nasdaq